[ad_1]
Investment scams involving cryptocurrencies are now the most dangerous type of fraud, according to a new report from the Better Business Bureau. More than 80% of people who have been targeted by this type of scam have reported losing money through BBB Scam Tracker. The median dollar loss was also the second largest at $3,800.
Investment fraud can take many forms, including pressure to buy, trade, or store digital assets (cryptocurrency) on fraudulent exchanges. Investment scams and cryptocurrency scams both featured in the list of the top 10 most dangerous scams of 2023. This year, we have combined them because most crypto scams involve some kind of investment opportunity.
Reports of employment fraud remained the second most dangerous type of fraud in 2023. The number of reports increased by 54.2% compared to the previous year. The median loss from employment fraud was $1,995, significantly higher than the overall median loss of $100 reported across all fraud types.
Online purchase (shopping) fraud is no longer the most dangerous fraud type for the first time since 2019, taking third place on the list. This year, 41.9% of scams submitted to the BBB Scam Tracker were online purchase scams, and 82.6% reported a loss of money.
“In 2023, investment fraud and cryptocurrency fraud had a particularly large impact on people over 45,” said Melissa Lanning, executive director of the BBB Marketplace Trust Institute, which produced the 2023 BBB Fraud Tracker Risk Report.・Mr. Trumppower said. “People should always be wary of opportunities that seem too good to be true. There are no investment opportunities with zero risk.”
Key findings of the report include:
Fraud committed online continues to rise, accounting for 68.4% of all reports. What’s even more concerning is that online fraud is more likely to result in reported financial losses than fraud committed in person or over the phone.
Overall reported susceptibility (proportion of reports with financial loss) increased by 27.8% from 2022 to 2023. Overall, the median reported dollar loss decreased by 41.5%.
For the second year in a row, people ages 18 to 24 reported the highest median loss of all age groups ($155).
The percentage of people who reported engaging with scammers through social media increased by 63.8% from 2022 to 2023.
Credit cards remain the most common payment method with reported financial losses, followed by direct debits and online payment systems. Reports of direct debits with financial losses increased by 66.4%.
Employment fraud was the highest risk for those aged 18-44. Online/cryptocurrency fraud was the highest risk for the 45+ age group.
Our research shows that people between the ages of 18 and 44 cite anxiety/stress as the number one emotion they feel after being the target of a scam, while people 45 and older rank anger as their number one emotion. I listed it.
The 5 most impersonated organizations reported to BBB Scam Tracker in 2023:
United States Postal Service
Amazon
Publishers Clearing House
Otaku squad
norton
A list of the top 20 is included in the report.
resource
For more information on the highlights of the 2023 BBB Scam Tracker Risk Report, visit BBBMarketplaceTrust.org/RiskReport.
Visit BBB.org/ScamTracker to report a scam, learn more about other dangerous scams and access our news feed at BBB.org/ScamTips.
About the BBB Risk Index and BBB Fraud Tracker Risk Report
To better understand which fraud types pose the highest risk, the BBB Institute rates risk based on the BBB Risk Index: Exposure x Susceptibility (or Likelihood of Loss) x Financial Loss . These three factors can help you understand the impact of fraud and who is most vulnerable. Each year, the BBB Institute publishes its annual findings in the BBB Scam Tracker Risk Report. This report also includes a research study conducted among people who reported scams to the BBB Scam Tracker.
About BBB Fraud Tracker
BBB Scam Tracker (BBB.org/ScamTracker) is an online platform that allows consumers and businesses to report attempted and successful fraud. The platform also allows you to search for fraud reports to determine if you are a target of a scam. The platform was upgraded in 2022 with support from Amazon and Capital One.
About BBB Marketplace Trust Institute
BBB Institute for Marketplace Trust (BBB Institute) is the educational foundation of the International Association of Better Business Bureaus. Our mission is to educate and protect consumers, promote best practices for businesses, and solve complex market problems. Our consumer education program includes a wide range of fraud prevention and education resources, delivered digitally and in-person by BBB serving communities across the United States and Canada. For more information about BBB Institute and its programs, please visit BBBMarketplaceTrust.org.
[ad_2]
Source link
