BBB warns folks of colour extra susceptible to lose cash when focused by scammers

According to BBB, the data analysis reports that women are much more likely to report fraud attempts than men, and twice as likely to report money losses as men. However, men who lost money lost larger amounts than women.

BBB warns of fraud when stimulus checks are sent

Age did not appear to have a significant impact on the rate of money loss, although research showed that older victims tended to pay more when they became victims.

Consumers reporting postcodes with a population less likely to have a GED or equivalent schooling are more likely to lose money when attacked by scammers. However, none of these factors are associated with higher dollar losses, according to BBB. In fact, those who report postcodes with above average income are more likely to be victims and lose more money.

The Better Business Bureau warns of an increase in pet fraud during a pandemic

In addition to this analysis, 30% of reported frauds included a loss of money in line with the results for the year BBB Scam Tracker Risk Report. Online purchase fraud remained the most frequently reported type of fraud, followed by phishing requests. Both types of fraud increased in 2020 during the COVID-19 pandemic, according to the BBB.

In the period from March to September 2020, there was a significant increase in reports of fraud, particularly in the case of online purchase and phishing scams as well as all scams related to COVID-19. The rise and fall of COVID-19 fraud coincided with the period of intense shortages, with the most common virus fraud in the US involving the sale of masks and other personal protective equipment.

To report a fraud, Click here.