MOBILE, Ala. (WKRG) — WKRG News 5 anchor Devon Walsh spoke with Monde Donaldson, Vice President of the BBB Educational Foundation at Better Business Bureau Serving Central & South Alabama, Tuesday and talked about the rise in scams using 2022 Scam Tracker information.
According to BBB Scam Tracker reporting, crypto scams saw the biggest increase in monetary loss from 2021 to 2021.
Monetary losses from crypto scams rose from $11,650 in 2020 to over $120,000 in 2022, according to Donaldson.
From 2021 to 2022, BBB saw a 31% increase in their scam tracker. Donaldson noted this is calculated when someone reports a scam, which “doesn’t mean they were victim of that scam.”
Those who reported scams in 2022, compared to 2021, saw a total increase of losses at an increase of 116% and a median loss increase per report of 28%.
Donaldson spoke about a few other types of scams in the last year:
Employment scams
From 2021 to 2022, there was an increase in median loss of over $500. There was $1,500 in losses in 2021 compared to over $2,000 in 2022.
Online purchases scams
From 2021 to 2021, there was an increase in median loss of over 30%. It was $93 in 2021 compared to $129 in 2022.
WKRG has reported on scams throughout 2022.
- In January, WKRG News 5 took a look how rental property scams operate in Northwest Florida.
- In February, the Okaloosa County Sheriff’s Office made the public aware of t-shirts being made with their logos.
- In April, the Escambia County Sheriff’s Office warned the public of a bitcoin scam.
- In July, Orange Beach Police warned the public of a man attached to businesses and alleged scams in the area.
- Later in July, the Gulf Shores Police Department said people were posing as representatives asking people to pay supposed outstanding fines and penalties.
- In December, Fairhope Police arrested two men who allegedly scammed residents in pine straw sales.
BBB has a digital library that breaks down every type of fraud you may encounter. These resources are available 24/7 at www.bbb.org/all/scamtip.
Red flags can range from what payment method the ‘business’ suggests you use, to poor grammar, to claims of no risk-all return investment opportunities, according to Donaldson.
Donaldson also said scams continue to be primarily conducted digitally, whether via text, email, social media, etc.
“The best way to protect yourself from falling victim to any scams is to know what scams are out there, how they work, and what the red flags are so you can identify fraudulent offerings prior to completing a transaction,” said Donaldson.
You can report a scam at https://www.bbb.org/scamtracker.
