Marketplace scams represent a $50 billion scourge on our economy and impact one in four households each year. For over 100 years, your Better Business Bureau has been fighting fraud and educating consumers and businesses regarding scams and fraud prevention. In 2016, over 32,000 reports were submitted to BBB Scam Tracker. Using this data, BBB Institute for Marketplace Trust has released its inaugural BBB Scam Tracker Annual Risk Report.
This annual report takes a closer look at the at-risk groups that BBB Scam Tracker highlights, using a new approach called the BBB Risk Index. The BBB Risk Index is a sophisticated analysis that goes beyond volume to look at the risk each scam type poses along three dimensions: