BBB Announces New Tool for Top Scams
The Better Business Bureau announces new tool that can tell us the top scams and who’s more likely to get taken advantage of between men and women.
When it comes to scams men are more vulnerable than women, and young adults are most at risk.
That’s according to a new algorithm that has helped the BBB identify the riskiest scams and fraud deals.
There’s no denying scams have gone high tech, finding their ways into our news feeds, cell phones, and bank accounts, but according to the new risk index it’s those face-to-face scams that are the riskiest.
According to the index, home improvements cons, fake check and money orders, employment scams, online purchases scams, and loan fees are the top five scams.
It’s all based off the BBB’s scam tracker, a system that keeps a log of all reported frauds. The analysis goes beyond a scam report and looks at factors like how likely a consumer is to be exposed to the con, how likely you are to lose money, and how much money a victim could lose.
“The number one way to prevent people from being scammed is education,” says Jim Temmer, president and CEO of the BBB of South Eastern Wisconsin. “If you know what’s going on ahead of time, you know what to look for; you cannot fall for any of these scams.”
The BBB compiled the list based on data from their 100 plus chapters nationwide.
For more information about these scams and how to avoid falling victim, click here.
For a full report of the index click here.