RATE Group | BBB Scam Tracker Risk Report Reveals Cryptocurrency as Second Riskiest Scam
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BBB Scam Tracker Risk Report Reveals Cryptocurrency as Second Riskiest Scam

08 Mar BBB Scam Tracker Risk Report Reveals Cryptocurrency as Second Riskiest Scam

Posted at 21:23h in Cryptocurrency News by

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Two years ago, cryptocurrency
scams were just emerging as a problem on BBB Scam Tracker. The Better Business Bureau added cryptocurrency as a scam category
in 2019, and it leapt to the second riskiest scam, according to the latest BBB
report, New
Risks and Emerging Technologies: 2019 BBB Scam Tracker Risk Report (BBB.org/RiskReport).

Although employment scams
remained the riskiest for the second year in a row, the surprise in the data
was cryptocurrency in the #2 spot, with a median dollar loss of $3,000. The
report is based on data supplied by consumers to BBB Scam TrackerSM (BBB.org/ScamTracker) and is based on the BBB Risk Index, a
unique algorithm that calculates exposure, susceptibility, and monetary loss to
offer a more accurate assessment of scam risk.

“Scammers take advantage of newer
technologies and changes in the marketplace,” said Melissa Lanning Trumpower,
executive director of the BBB Institute for Marketplace Trust, which produced
the report….

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