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The Better Business Bureau (BBB) has released its annual BBB Scam Tracker Risk Report, highlighting the most dangerous scams of 2024. The top scams in Alabama for 2024 are online purchase, phishing, and employment. Before diving into that, let’s discuss some of our national numbers.

Investment scams, particularly those involving cryptocurrency, remained the riskiest scam type of the year. Additionally, romance/friendship scams rose to No. 3 riskiest for the first time since the report's inception, as scammers increasingly rely on financial grooming tactics to deceive victims.

Financial grooming scams are particularly complex and devastating, as scammers build relationships over weeks or months before encouraging victims to invest. This often starts small, but as trust is gained, victims are persuaded to invest more significant amounts—only to discover too late that the platform was fake and their money is gone.

Key Findings:
● Investment scams were the No. 1 riskiest scam type, with over 80% of those targeted reporting financial loss.
● The median dollar loss for investment scams was $5,000.
● Employment scams remained No. 2, comprising 14% of all reported scams, with a median loss of $1,500.
● Romance/friendship scams rose to No. 3, carrying the highest median loss of $6,099.
● Online purchase scams dropped to No. 4 but still represented 30.3% of all reports, with 87.5% of victims losing money.

Top Scams in Alabama:
Scammers continue to target Alabama residents through a variety of deceptive schemes.
The top three scams reported in Alabama in 2024 were:

1. Online Purchase Scams – Fraudulent sellers trick consumers into paying for products that never arrive.
2. Phishing Scams – Scammers impersonate trusted entities to steal personal information and financial details.
3. Employment Scams – Fake job offers lure victims into providing sensitive information or paying upfront fees.

Top Impersonated Companies in 2024:
Scammers often impersonate well-known companies to appear credible. The top five most impersonated organizations reported to BBB Scam Tracker in 2024 were:
1. Publishers Clearing House
2. U.S. Postal Service
3. PayPal
4. Amazon
5. Spectrum

Additional Report Insights:
● Median dollar loss across all scams rose by 30% from 2023 to 2024.
● People ages 65+ reported the highest median loss ($160), followed by ages 18-24 ($150).
● Employment scams were the No. 1 riskiest scam for people ages 18-34, with scammers exploiting the desire for remote work opportunities.
● Social media remains a prime avenue for scams, with fraudsters leveraging platforms to distribute deceptive ads, fake product listings, and phishing links.

Expert Commentary:
“Scammers are becoming more strategic, taking the time to build trust before deceiving their targets, which leads to substantial financial losses,” said Carl Bates, CEO of BBB Central and South Alabama. “If someone you meet online is offering to help you invest your money, consider it a major red flag—it’s likely a scam.”

Resources to Stay Safe:
● Read the full report: BBBMarketplaceTrust.org/RiskReport
● Report scams: BBB.org/ScamTracker
● Learn about risky scams: BBB.org/ScamTips

● Find scam survival resources: BBB.org/ScamSurvivalKit.