The newly released BBB Scam Tracker Annual Risk Report for 2017 examined scam reports, likelihood of being victimized, and monetary loss to come up with its list of the most risky scams, here are the top five:
1. Online purchase scams
2. Investment scams
3. Employment scams
4. Advance fee loan scams
5. Fake check scams.
“Young people and millennials continue to be at a higher risk for scams, although they lose less money than senior citizens,” said Dayton and Miami Valley BBB president John North.
"They are tech savvy, they trust their devices, they sometimes feel invincible and think it's not going to happen to them," said North.
Tax collection scams decreased 60% in volume of reports, likely due to the arrest in India in 2016 of a call center ringleader, 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.
Home improvement scams dropped from 1st to 6th riskiest, despite a number of natural disasters that traditionally bring out "stormchasers."
To avoid scams, consumers should watch out for:
-too good to be true deals.
-high pressure sales tactics.
-threats of arrest or fines.
-emails, letters, and phone calls coming from a spoofed business or organization.