BBB: Top 4 scams of 2024

JACKSON, Tenn. — It is National Consumer Week, and the Better Business Bureau has released their 2024 Annual Scam Tracker Risk Report.

The Better Business Bureau’s 2024 annual scam tracker risk report has compiled the top 4 scams of the year. Investment and cryptocurrency comes in at number one.

“Many cases involved financial grooming, where scammers typically build trust with victims before stealing their money. So, more than 80% of people targeted by this scam reported losing money, with a median loss of $5,000. So that’s pretty hefty,” said Toddnetta Trice, communication specialist for the BBB.

Employment scams make up 14% of all reported scams. Followed by romance scams, with the highest median dollar loss overall. And finally, online purchase or shopping scams contribute to 30% of all scams reported.

Trice tells us more of the items that stood out in their research.

“In 2023, actually 18-24 year olds did top the age range that was mostly scammed, but coming in as number one in 2024 is the 65 and up older range, that they lost the most money to scams on an average of $160, but they were least likely to fall for a scam when targeted,” said Trice.

Also, ages 35 to 44 were most likely to lose money in general. While, ages 25 to 34 were more likely to lose money when targeted via email.

“Some other items that stood out in our research would be that the most impersonated organizations reported to the BBB scam tracker in 2024 was publishers clearing house, followed by USPS, PayPal, and amazon,” said Trice.

Scams don’t just drain people’s wallets, they also have a significant emotional effect.

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