BBB Warns That Coronavirus Creates “Perfect Storm” for Scammers
Wednesday, April 01, 2020
As the coronavirus continues to spread throughout the U.S. and the world, the Better Business Bureau (BBB) is warning that the pandemic is creating the “perfect storm” for scammers.
“According to our research, social isolation is a key risk factor for susceptibility to scams, as is financial vulnerability. Add increased time spent online and coronavirus creates the ‘perfect storm’ for scammers, because all three of these factors have increased dramatically,” said Melissa Lanning Trumpower, executive director of the BBB Institute for Marketplace Trust.
In the U.S., there are 54,428 cases of the coronavirus, resulting in 792 deaths.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTIn Rhode Island, there are 124 cases, while Massachusetts has 1,159 cases and 11 deaths.
In both states, restaurants were ordered to close except for take-out and residents are advised to “stay home.”
The BBB adds, “As bricks-and-mortar businesses close or curtail services and the financial markets experience a high level of volatility, many consumers are left to wonder if they will have a job or an immediate way to provide for their loved ones. As people turn to the Internet seeking new or temporary employment, they are also at increased risk of employment scams. BBB research deemed employment scams the riskiest scams of 2019, making up 9.3 percent of all scams reported and a median dollar loss of $1,500.”
The BBB offers the following steps to avoid scams:
Don’t be afraid to contact a friend, or a company or organization you trust for advice.
Isolation is a risk factor for scams. Feelings of loneliness were associated with being more likely to engage with and lose money to scammers. This was especially true when the individual felt he or she lacked companionship and was isolated from loved ones, according to Exposed to Scams: What Separates Victims from Non-victims.
Fact: Scammers will try to isolate their victims.
Before clicking a link or sharing personal information online, stop, pause, and research the company or person.
People are more likely to lose money to scams perpetrated online. According to the 2019 BBB Scam Tracker Risk Report, consumers who are approached online (email, website, social media, internet messaging, and online classifieds) are significantly more likely to report losing money.
Related Articles
- NEW: Convicted Rapist Weinstein Has Coronavirus, According to Reports
- 3 More Deaths from Coronavirus in MA, Total Jumps to 5
- 7 Major Coronavirus Developments—March 23, 2020
- WATCH LIVE: Raimondo’s Monday 1 PM Coronavirus Update at RI State House
- REPORT: 2020 Olympics to be Postponed Due to Coronavirus Emergency
- NEW: Raimondo Clamps Down on Thousands of Businesses - 17 New Coronavirus Cases in RI, Total Now 83
- NEW: U.S. Treasury Secretary Calls Coronavirus Crisis “10 to 12 Week Scenario”
- 8 Major Coronavirus Developments Including Federal Stimulus — March 25, 2020
- 50-Year-Old Woman Is Massachusetts’ Second Coronavirus Death
- WATCH LIVE: Raimondo’s Sunday Coronavirus Update at 1 PM
- Coronavirus Is a Crisis—Rhode Islanders Consider the Silver Lining
- RI Presidential Primary Postponed to June 2 Due to Coronavirus
- NEW: Four More Coronavirus Deaths in MA, Total Now 9
- Brown University Postpones Commencement Due to Coronavirus
- 18 New RI Coronavirus Cases; Raimondo Announces Website Partnership for Access to Child & Eldercare
- RI House, Senate Leaders to Consider $300M in Emergency Borrowing for Coronavirus Response
- BREAKING: RI Unemployment Numbers Spike to 56K Tied to Coronavirus
- Horowitz: Right-Wing Media Misinformation on Coronavirus Negatively Impacts Their Audience
- Brady Says “Immunity Boost” Plan on TB12 Website “Can Make Huge Difference” in Coronavirus Crisis
- 7 Major Coronavirus Developments—March 24, 2020
- WATCH LIVE: Raimondo and RI Officials’ Tuesday 1 PM Coronavirus Update
- RI Unemployment Numbers Rise to 62K Tied to Coronavirus
