BBB: Investment, cryptocurrency the riskiest scams in Canada in 2023

Investment scams, including those involving cryptocurrency, rose to the riskiest scam type reported in Canada in 2023, according to a new report from the Better Business Bureau .

“Investment and cryptocurrency scams had a significant impact in 2023, particularly for people forty-five years of age and older,” said Simone Lis, president and CEO for the BBB serving Mainland BC and Yukon. The report also indicates that overall scam susceptibility increased 30.3 per cent from 2022 to 2023. However the overall median dollar loss for scams reported in Canada remained the same as reported in 2022 . Employment scams became the second riskiest scam type in 2023 with a 67.7 per cent increase in reports from the year before. They had a median dollar loss of $3,600, up from $3,000 in 2022.

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