by Susann Miller
Online purchase scams are now the riskiest form of consumer fraud, according to a new report from the Better Business Bureau. In 2017, consumers reported more than 47,000 scams to the BBB Scam Tracker. Over 100,000 heroes have shared their experiences to warn others and from this data, we can share the Top Ten Scams of 2017.
BBB analyzed this information using its unique BBB Scam Risk Index to determine the riskiest scams based on exposure, susceptibility, and monetary loss. A couple key findings are:
Tax collection scams decreased 60 percent in volume of reports, likely due to the arrest in India in 2016 of the ringleader of a network of call centers primarily responsible for the IRS scam.
Online purchase scams jumped from the 4th riskiest scam to the top spot, likely due to an increase in exposure.
So what are the top ten riskiest scams in 2017:
- Online purchase scam (up from #4 in 2016).
- Investment scam (up from #6 in 2016).
- Employment scam (no change).
- Advance fee loan scam (up from #5 in 2016).
- Fake check scam (down from #2 in 2016).
- Home improvement scam (down from #1 in 2016).
- Tech support scam (up from #8 in 2016).
- Travel/vacation scam (new to top 10, #12 in 2016).
- Family/friend emergency scam (no change).
- Government grant scam (new to top 10, #11 in 2016).
Scammers are clever and are always adjusting their tactics, so everyone is vulnerable. BBB Scam Tracker is helping us identify higher risks and debunk long-standing myths, but no one should let down their guard. For more information on specific scams and tips on how to avoid them, go to BBB.org/ScamTips. To report a scam, go to BBB.org/ScamTracker. To read the full Risk Index report, go to www.bbb.org/bbbscamtrackerriskreport/.
If you are the victim of a scam or want to search scams, please go to the BBB Scam Tracker at www.bbb.org. Be a hero to your community by warning others. Feel free to contact the Better Business Bureau Serving Southern Arizona at (520) 888-5353 or visit our website.
