A staggering 73% of U.S. adults having fallen victim to some form of online fraud. In an age where scams are everywhere, being informed is your best protection. By understanding the types of scams and recognizing the red flags, you can safeguard yourself from falling victim to fraud.

Mel Lanning, Executive Director at the Better Business Bureau Institute for Marketplace Trust, reveals that online scams come in many forms, often targeting specific demographics. For example: Young adults are frequently targeted by employment scams, while older adults may face increased risks from investment-related frauds, especially those involving cryptocurrency.

Understanding these trends is crucial for identifying potential threats.

Key lessons:

• If you suspect a scam, report it to the BBB, FTC, or your local authorities
• Young adults often face employment scams, while older adults may be targeted by investment scams
• Scammers often create a false sense of urgency
• Avoid sharing sensitive information unless you are sure of the recipient's identity. Use strong passwords and enable two-factor authentication
• The BBB’s Scam Tracker allows you to report scams and access valuable information about current threats

Resources:

https://bbbmarketplacetrust.org

https://www.bbb.org/scamtracker⁠