The Better Business Bureau’s Risk Report was recently released. One scam rose above the rest over the past year. KRPS’s Fred Fletcher-Fierro has more.
Investment and cryptocurrency continued to be the dominant scam coast to coast in the US in 2024. According to the Better Business Bureau’s Risk Report, the median loss report is $5000 with 80.1% of the report scams resulting in monetary loss.
According to survey respondents, 26.2% of those who reported investment/ cryptocurrency scams said the scammer spent time building a romance or a friendship before perpetrating the scam. According to Pamela Hernandez Regional Director of the Better Business Bureau in Springfield, Missouri investment and cryptocurrency continue to increase.
“We should probably start with that number one scam on the list, the most riskiest and that is investment and cryptocurrency scams. People are reporting that again in higher numbers and higher losses. Median dollar loss is $5000 on these types of scams.”
Rounding out the top five riskiest scams by consumers. Number two is employment scams, number three involves romance or friendship. The number four most reported are online purchase scams, followed by home improvement scams.
People ages 65+ reported the highest median dollar loss ($160) of all age groups followed by people ages 18 –24 ($150).
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