RATE Group | Cryptocurrency is now Second Riskiest Scam | Local News
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Cryptocurrency is now Second Riskiest Scam | Local News

14 Mar Cryptocurrency is now Second Riskiest Scam | Local News

Posted at 14:08h in Cryptocurrency News by

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MARLBOROUGH, MA — 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…

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