BBB Vancouver Island head says fraudsters are at their peak during times of crisis, when consumers are dealing with rising inflation and interest rates and holiday shopping madness at the same time
Consumers are being warned to be extra-vigilant with online purchases as holiday-shopping time ticks down and desperation increases to find that perfect gift.
The Better Business Bureau of Vancouver Island, local police and the Canadian Anti-Fraud Centre say scams are at an all-time high.
Rosalind Scott, chief executive of the BBB Vancouver Island, said fraudsters are at their peak during times of crisis like right now, when consumers are dealing with rising inflation, increasing interest rates and holiday shopping madness all at the same time.
“People, when they’re desperate to get a little bit more money, are more quick to believe these scams, because they want it to be true,” she said.
Scott said the amount of online fraud is immense, although only about five per cent of people actually report that they’ve been scammed. “But we do know literally millions and millions of dollars are lost every year.”
The Better Business Bureau’s Scam Tracker reported online-shopping-scam losses at more than $380 million US across North America last year, an 87 per cent increase since the tracker was launched in 2015.
The tracker noted that nearly 36 per cent of all online retail fraud reports stemmed from a fake website, and scammers used social media and email to…
