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Over half of all Americans encounter a scam every day. Better Business Bureau (BBB) data shows Scam Tracker reports increasing each year. Over $68 billion was lost to financial fraud last year, and over 98% of Americans said scams pose a threat to national security.
With the nearly unanimous disdain for scams across North America, many ask: Why can’t scams be stopped? And why do scams seem to be getting worse?
Since 2022, BBB Scam Tracker reports have totaled more than 433,000. BBB’s International Investigations Initiative (III) used an artificial intelligence model to analyze these reports, providing a unique glimpse into the patterns developing across the North American scam landscape and the methods and tools used to steal from consumers.
In the new study “Blueprint of a scam” the III examines patterns of reports and shares stories to highlight the tools scammers use in their fraud and give suggestions on how strengthened regulations could help protect the public.
Since 2021, the III has laid out ways consumers and businesses can avoid scams and significant monetary loss. Previous studies examined job scams, business scams, online gambling, vehicle purchases, identity theft and much more.
Key findings:
BBB data on scam methods across North America:
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Regulatory suggestions:
How can consumers protect from scam calls and texts?
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