Better Business Bureau Releases Lists Top Scams of 2018

The Better Business Bureau has released its list of the Top 10 scams of 2018 and it shows crooks were pulling on quite a few heart strings to make a buck.

Romance scams topped the list with victims losing over $22.5-million last year.

Fraudsters using dating websites pose as an interested lover and ask victims to send them money, or buy and send them gift cards, to an unknown address.

The bureau says the Canada Revenue Agency scam is second on the list at $6-million lost with online purchase scams coming in third with over $3.5-million lost.

Experts also say, since just about everyone uses the internet, most people are at risk of fraud.

Tricksters have set their sights on millennials on social media and are scamming them out of money more than ever, according to the Better Business Bureau. The main target is teens and those in their 20's and 30's.

The bureau says this age group falls for subscription scams where websites offer free-trials, but the buyer inadvertently signs-up for an expensive subscription.

Overall losses are likely much higher, but the bureau says many victims don't report it because they fear embarrassment.

 

The Better Business Bureau Top 10 Scams on 2018 based on estimated losses:

Romance scams: More than $22.5 million lost
Income tax extortion scam: More than $6 million lost
Online purchase scams: More than $3.5 million lost
Employment scams: More than $4.5 million lost
Phishing: Losses unknown
Subscription scams: Losses unknown
Advance fee loans: Almost $1 million lost
Tech support scams: Almost $1 million lost
Home improvement scams: Losses unknown
Bank investigator scams: More than $2 million lost

CLICK HERE to learn more about the top scams in Canada.