107.5FM WCCN The Rock - The Coolest Station in the Nation
ESPN 92.3FM WOSQ
92.7FM WPKG
Memories 1370AM 98.5FM
98.7FM / 1450AM WDLB - Timeless Classics
Listen Live: 107.5 THE ROCK • 92.7 FM
Family owned radio stations serving all of Central Wisconsin

Employment Scams Now Second Riskiest

Tuesday, March 7th, 2023 -- 9:00 AM

unnamed27.jpg

Employment scams are now the second riskiest, according to a new report from the Better Business Bureau.

Employment scam reports submitted to BBB Scam Tracker were up 23.1 percent from 2021 to 2022. The median dollar loss of $1,500 for employment scams is significantly higher than the overall median dollar loss of $171 for all scam types.

Online purchase (shopping) scams remained the #1 riskiest scam type in 2022. Cryptocurrency scams dropped in 2022, from second to third riskiest because of a decline in reported scams, susceptibility (the percentage of those who lose money when exposed to a scam), and median dollar loss.

Romance scams reappeared on the list this year, rising from #14 in 2021 to #7 in 2022 because of an increase in reports and a higher median dollar loss. Key findings of the report include: More people reported losing money when targeted by a website, social media, or email than other contact methods.

Those who were targeted in person reported losing the largest amount of money ($715), followed by text message ($579) and phone ($550). Text message scams increased 39.6 percent, up from 12.7 percent in 2022.

Scams perpetrated online were more likely to result in a monetary loss, compared with scams being targeted by phone or in person. Credit cards remained the most reported payment method with a monetary loss, followed by online payment systems.

The payment methods with the highest median dollar loss were wire transfer ($2,700), check ($1,277), and cryptocurrency ($1,135). The riskiest scam type varied among age groups, with employment scams landing as the #1 riskiest for ages 18 and up.

Online purchase scams were again the #1 riskiest for ages 35 to 64. Home improvement scams were the #1 riskiest for ages 65+. Military consumers (active-duty military, spouses, and veterans) reported significantly higher median financial losses ($238) than non-military consumers ($163).

Active-duty military reported losing significantly more money ($490) than military spouses ($248) and veterans ($200). The five most impersonated organizations reported to BBB Scam Tracker in 2022: Amazon, Geek Squad, Publishers Clearing House, U.S. Postal Service, and Norton.

Feel free to contact us with questions and/or comments.