Better Business Bureau marks National Consumer Protection Week
HELENA, Mont. (KTVZ) -- The Better Business Bureau has teamed up with federal, state and local agencies for the launch of this year’s National Consumer Protection Week, going on through Friday.
The NCPW campaign is held annually to educate consumers on ways to make better informed, more secure purchasing decisions. In 2020, BBB received more than 81,000 business complaints filed by consumers and, nationally, saw more than 46,000 scams reported through its ScamTracker platform.
In support of NCPW, BBB is recommending consumers follow these tips for shopping smarter:
Read the ad. Make sure you fully understand the terms of the offer, including any promoted sales prices or warranty offerings. Advertisers should be truthful with their messages and adhere to the BBB Code of Advertising.
Get everything in writing. Always get verbal promises in writing and be sure to read the fine print. This way, you fully understand your rights and are aware of any agreed upon conditions. Save all communications with businesses, whether it’s a text or email, and make sure you take pictures when necessary.
Shop with a credit card. In case of a fraudulent transaction, a credit card provides additional protections. Credit cards make it easier to dispute charges that you didn’t approve. Debit cards, prepaid cards, or gift cards don’t have the same protections.
Know where to go in case of a dispute. You can file a complaint at bbb.org, as well as the Attorney General, Licensing Agency, and/or the Federal Trade Commission. BBB also offers arbitration and mediation services to resolve disputes.
Stay on top of the latest scams. You can use the BBB ScamTracker tool to file your scam, warn other consumers about an issue, and find out about other scams in your area.
Look for the BBB seal. Before you do business with anyone, check to see if they are accredited. A BBB Accredited Business must meet all BBB Standards for Trust and have pledged to support the objectives promoted by the BBB.
More information for making smarter and safer shopping choices can be found at trust-bbb.org. Additionally, free consumer education materials and insight provided by consumer protection experts is available through the FTC.
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ABOUT BBB: For more than 100 years, Better Business Bureau has been helping people find businesses, brands, and charities they can trust. Millions of people turn to BBB each year to view BBB Business Profiles and Charity Reports all available for free on BBB.org. BBB Accredited Businesses support the mission and vision of BBB, and their dues and contributions allow BBB to offer its information and services to consumers at no charge. The Better Business Bureau is not affiliated with any governmental agency.
ADULTS 18-24 REPORT HIGHEST SCAM RISK AND ONLINE PURCHASE SCAMS BECOME RISKIES SCAM IN THE WAKE OF COVID-19
Adults ages 18–24 reported the highest median losses ($150) and the highest likelihood of loss (56.6%) to BBB Scam TrackerSM in 2020, according to the Better Business Bureau (BBB). Previously, older age groups consistently lost higher median dollar amounts to scammers year over year, even while young adults tended to lose money more often. This year, the financial loss reported by those 18-24 was equal to that of adults 65+. Online scams rise during COVID-19 pandemic: 2020 BBB Scam Tracker Risk Report (BBB.org/RiskReport) focuses on the impact of scams in the wake of the pandemic and the demographic groups most at risk.
Online purchase scams were the most common scam reported to BBB, comprising 38.3% of all scam reports, and yielded the highest likelihood of financial loss in 2020. This is likely connected to consumer habit shifts since the start of the COVID-19 pandemic; in a survey of over 5,000 individuals that reported scams to BBB Scam TrackerSM (BBB.org/ScamTracker) in 2020, 43.1% said they spent more time online due to the pandemic, and 57.1% said they purchased more online because of the pandemic. Pets and pet supplies topped the list for online purchase scams.
Scams perpetrated online through websites, and social media apps were the riskiest contact methods for all age groups in 2020, including young adults and older adults.
The risk of financial loss also rose significantly in 2020. Nearly one of every two reports to BBB Scam Tracker (46.7%) noted a financial loss. Online purchase scams accounted for two-thirds of those reporting (64.7%) a financial loss, which was the top riskiest scam in 2020.
Another way scammers take advantage of younger adults is by utilizing a payment method less familiar to younger generations: checks. Fake check scams were the second most risky scam for adults ages 18-24 in a year where payment via online payment systems rose across all age groups. Fake check scams yielded one of the highest median dollar losses per encounter at $1,679 in 2020.
A majority of individuals reported losing time, confidence, or peace of mind in the marketplace, with over one-third losing personally identifiable information in the encounter.
RESOURCES
For more highlights from Online scams rise during COVID-19 pandemic: 2020 BBB Scam Tracker Risk Report, visit BBB.org/RiskReport.
Go to BBB.org/ScamTracker to report a scam, learn more about other risky scams on BBB.org/ScamTips and visit our scam news feed.Â
ABOUT THE BBB INSTITUTE FOR MARKETPLACE TRUST
The BBB Institute for Marketplace Trust (BBB Institute) is the educational foundation of the Better Business Bureau. Our mission is to educate and protect consumers, promote best practices for businesses, and solve complex marketplace problems. Our consumer educational programs, which include a wide array of resources on fraud prevention and education, are delivered digitally and in-person by BBBs serving communities across North America. You can find more information about BBB Institute and its programs at BBBMarketplaceTrust.org.
