Better Business Bureau Releases Report on "Riskiest" Scams

Thursday, March 7th, 2024 -- 10:01 AM

(WBAY) The Better Business Bureau released a report about the “riskiest” scams, the ones where people have suffered the biggest dollar losses.

Scams that happen online continue to grow, making up 68% of all reports. They’re more likely to result in a monetary loss than a scam carried out in person or over the phone. These specific scams are considered the riskiest: Investment scams, including those that involve cryptocurrency.

More than 80% of people who reported being targeted by these scams lost money. It had the second-highest median loss at $3,800. Investment scams can look like a pressure to purchase, trade or store digital assets, such as cryptocurrency, with fraudulent exchanges.

Employment scams are second on the list. Reports of employment scams are up 54% from 2022. These scams average $1,995 in losses. We just reported Tuesday on a huge month-to-month increase in reports of scams targeting job-seekers.

Online shopping scams have dropped on this list for the first time since 2019. Nearly 42% of scams reported on the BBB Scam Tracker were online purchase scams. The BBB Scam Tracker Risk Report is available online.

You can read the full report or just the highlights, or download specific versions to learn about the scams targeting either older adults or young adults.

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