BBB lists top five scams you need to watch out for
Using a sophisticated analysis, the Better Business Bureau has identified the top scams that impact consumers the most. Number one is the home improvement scam where the person comes door to door selling you a bill of goods but never delivers. Fake check and money order scams are not far behind. Others rounding out the top five: employment, online sales and advance fee loan scams.
Some other findings: men are more at risk than women with young adults being at highest risk. Seniors tend to fall for scams less often, but they lose more money than the Millenials. However everyone is at risk as these scam artists have gone high tech.
The BBB Risk Index measures three factors:
•Exposure-how likely are you to be exposed to the con?
•Susceptibility-if you are exposed, how likely are you to lose money?
•Monetary loss-if you do lose money, how much is it likely to be?
This risk index takes into account "susceptibility of the population and dollar loss" as opposed to just volume of calls.
The most reported scam was the tax scam. But fortunately consumers have wised up to this con.