BBB Issues “Investment Scam” Warning

(Undated) — The Better Business Bureau is issuing a reminder to be on the lookout for “investment scams.” According to the BBB, since 2020, investment scam reports to BBB Scam Tracker totaled more than 4,000, reaching a three-year high in 2023. They say scammers blended aspects of various scams, including romance and cryptocurrency, to trick targets into handing over large sums of money. Reports to Better Business Bureau show that investment scams often take the form of long-term confidence scams, where fraudsters pursue romantic and platonic relationships to gain the trust of their targets. That has caused losses to rise, with the median report increasing from $1,000 in 2021 to almost $6,000 this year. If you think you have been the victim of a scam, you are reminded to visit BBB.org to check out a business or register a complaint, BBB ScamTracker to report a scam, and BBB.org/scamstudies for more on this and other scams.