New report shows Top 10 Riskiest Scams of 2019

BBB releases top riskiest scams of 2019

MEMPHIS, Tenn. (WMC) - The Better Business Bureau released its top 10 riskiest scams of 2019.

The BBB tracker considers exposure, susceptibility and median dollar loss to come up with its list. While most of the list looks pretty similar to last year, there’s a new entry to the list that caught experts off-guard.

Employment Scams reign supreme for the second year in a row.

“They tend to be jobs that offer you a lot of money for a little bit of work and don’t require any special skills or training,” said Nancy Crawford with the Better Business Bureau of the Mid-South.

But the phony job listings on often legitimate job sites are really looking to steal your information.

Crawford says it’s a common complaint in the Mid-South.

“It’s not just the young adults that you might think are looking for jobs, a lot of baby boomers are aging into retirement, but still wanting to do something,” said Crawford.

The second most popular scam is cryptocurrency.

“Which was a surprise to us because in 2018, they were just a blip on the scam tracker radar,” said Crawford.

Bitcoins and other virtual currencies are gaining in popularity, but there’s no safety net like when you put money in a bank that’s protected by the federal government.

“So once you trade or transfer your Bitcoin, they're gone and there is no getting them back,” said Crawford.

The BBB says to avoid being a victim of these types of scams consumers should avoid purchases from aggressive cold callers.

BBB says people should be suspicious of guarantees that your virtual money will perform a certain way and check various databases such as FINRA Broker Check to be sure firms are legitimate.

“Do your homework before you let go of your money,” said Crawford.

Riskiest Scams in 2019:

  • Employment
  • Cryptocurrency
  • Online Purchase
  • Fake Check/Money Order
  • Advance Fee Loan
  • Romance
  • Home Improvement
  • Investment
  • Tech Support
  • Travel/Vacation/Timeshare

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