SPRINGFIELD, Mo. (Edited News Release/KY3) – A new Better Business Bureau investigation finds that weak regulations are allowing scammers to exploit legal tools and technology to steal billions of dollars from consumers each year.
More than half of Americans encounter a scam every day, according to BBB data, and Scam Tracker reports have increased annually. More than $68 billion was lost to financial fraud last year, and more than 98% of Americans said scams pose a threat to national security.
Since 2022, BBB Scam Tracker has received more than 433,000 reports. BBB’s International Investigations Initiative used an artificial intelligence model to analyze the reports for a new study called “Blueprint of a Scam,” examining patterns in the North American scam landscape and the tools scammers use to defraud consumers…