The Better Business Bureau has released its Top 10 scams of 2016, and if you’re looking for love online, you might want to be extra vigilant.
Even though employment scams took the number one spot due to the number of cases reported, it was love that hit people the hardest.
At $17-million, online dating scams cost Canadians the most.
Evan Kelly with the BBB says the scam affects people in more ways than just financially.
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“It’s one of those things where we just simply give away our trust and we start giving away our money. It’s an easy scam for scammers to get a hold of and start preying on Canadians.”
He says love scams target fewer people but collect more money.
“There’re only like 700 or 800 reports through the Canadian anti-fraud centre, and lower even through scam tracker. So it’s a big number because people are giving away a lot of money per individual, but it’s not a big number in terms of the actual reporting.”
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Number three spot at $11-million was identity fraud.
Kelly says technology is making it easier to get scammed.
“Especially with the digital age where these scammers have so many more avenues to get at your money, we have to be really careful about what we’re doing with our credit cards, what we’re doing with our personal, private, and financial information. And you know, just make things common practice like changing your password quite regularly.”He says if it sounds too good to be true, then it probably is.
He says if it sounds too good to be true, then it probably is.
Kelly adds that the only solution is awareness, to help people know what to look out for.
Top 10 Scams of 2016:
- Employment scams: $5.3 million reported
- Online Dating Scams: $17-million reported
- Identity Fraud: $11-million reported
- Advance Free Loans: $1.1-million reported
- Online Purchase Scams: $8.6-million reported
- Wire Fraud-Spearphishing: $13-million reported
- Binary Option Scams: $7.5-million reported
- Fake Lottery Winnings: $3-million reported
- Canada Revenue Agency Scam: $4.3-million reported
- Fake Online Endorsements: $Unknown