Web Desk
Alabama, USA — The Better Business Bureau (BBB) has released its annual BBB Scam Tracker Risk Report, shedding light on the most dangerous scams of 2024.
The report not only highlights national trends but also identifies the top scams affecting Alabama residents.
Key National Findings
Investment scams, especially those involving cryptocurrency, topped the list as the riskiest scams of the year.
Romance and friendship scams climbed to the No. 3 spot for the first time, as scammers increasingly use financial grooming tactics — building online relationships over time to manipulate victims into fraudulent investments.
Key statistics from the 2024 report:
Investment scams ranked No. 1, with 80% of victims reporting financial loss.
The median loss for investment scams was a staggering $5,000.
Employment scams held the No. 2 position, accounting for 14% of all reported scams, with victims losing a median of $1,500.
Romance/friendship scams rose to No. 3, causing the highest median loss of $6,099.
Online purchase scams dropped to No. 4 but still made up 30.3% of all scams, with nearly 88% of victims losing money.
Top Scams in Alabama for 2024
Scammers continue to target Alabama residents with a variety of deceptive schemes. The top three scams reported in the state were:
- Online Purchase Scams — Fraudsters trick consumers into paying for products that never arrive.
- Phishing Scams — Scammers impersonate trusted companies or organizations to steal personal and financial information.
- Employment Scams — Fake job offers convince victims to share sensitive details or pay upfront fees.
Most Impersonated Companies in 2024
Scammers often pose as well-known brands to appear credible. According to BBB Scam Tracker, the most impersonated companies this year were:
- Publishers Clearing House
- U.S. Postal Service
- PayPal
- Amazon
- Spectrum
Other Notable Insights
The median loss across all scams rose by 30% from 2023 to 2024.
People aged 65 and older reported the highest median loss at $160, followed closely by those aged 18-24 at $150.
Employment scams were the No. 1 risk for people aged 18-34, as scammers exploited the growing demand for remote work.
Social media remains a hotspot for scams, with fraudsters using ads, fake product listings, and phishing links to deceive users.
Expert Warning
“Scammers are becoming more strategic, taking the time to build trust before deceiving their targets, which leads to substantial financial losses,” said Carl Bates, CEO of BBB Central and South Alabama. “If someone you meet online offers to help you invest your money, consider it a major red flag — it’s likely a scam.”
How to Stay Safe
To protect yourself, BBB recommends:
Research companies and job offers thoroughly before sharing any information.
Be cautious of online relationships that quickly turn to money matters.
Verify online purchases by shopping through trusted websites.
