The BBB Canada Risk Report showed that Canadians lost $311 (median average) to scams in 2024.
Not only was that an increase from $300 in 2023, the report detailed the wide non-financial impacts of scams that had heath negatively affected the mental health of victims.
“Unfortunately, scams can impact more than just our finances,” said BBB marketing director Neesha Hothi in a news release. “According to the BBB Risk Report, 29.6 per cent of scam victims reported that their mental health was affected, and over half, about 53 per cent, experienced anxiety, stress or trauma as a result.”
“As Fraud Prevention Month comes to a close, we want consumers to know they’re not alone. There is strength in sharing your experience and support is available to help you stay informed and protected throughout the year.”
Meanwhile, cryptocurrency/investment scams, employment scams and home improvement scams were the Top 3 riskiest scams respectively in 2024, a repeat from 2023. Read the full report here.
BBB tips to use to avoid scams:
- Too good to be true? It probably is.
- Do your research. Check business profiles at BBB.org.
- Don’t share any information or click on links from unsolicited messages from people you don’t know.
- Never pay any upfront fees.
- Use credit cards for online purchases and avoid non-traceable payments (such as gift cards, cryptocurrency, electronic fund transfers).
- Watch out for high pressure sales tactics that coerce you to act quickly.
For more highlights from the 2024 BBB Scam Tracker Risk Report, visit BBBMarketplaceTrust.org/CanadaRiskReport. Go to BBB.org/ScamTracker to report a scam, learn more about other risky scams on BBB.org/ScamTips and visit our news feed. Scam victims can get resources and advice at BBB.org/ScamSurvivalKit.
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