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4 dead as severe storms hit Houston, TX; Election Protection Program eases access to voting information; surge in solar installations eases energy costs for Missourians; IN makes a splash for Safe Boating Week.

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The Supreme Court rules funding for the Consumer Financial Protection Bureau is okay, election deniers hold key voting oversight positions in swing states, and North Carolina lawmakers vote to ban people from wearing masks in public.

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Report: Cryptocurrency and investment scams rising in CT, US

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Thursday, March 7, 2024   

A new report finds scams in Connecticut and nationwide are rising.

The Better Business Bureau's 2023 Risk Report noted 762 scams were reported in the state, with over $1 million in losses.

One notable change is the kind of scam taking people in. Previously, online shopping scams ranked highest, but cryptocurrency scams are the front-runner now.

Kristen Johnson, communications director for the Better Business Bureau of Connecticut, said older people across the country are most affected.

"As they get closer to retirement, they oftentimes feel like they are not financially settled and so they're not where they thought they would be," Johnson explained. "A lot of times with these investment scams, is they will promise quick return on your investment, which is a hallmark of an investment scam."

She added get-rich-quick scams can be alluring to people who have not had as much time to save for their retirement. On average, investment and cryptocurrency scams cost Connecticut residents a little more than $8,000. Johnson advised people to research companies and people they're dealing with to better identify scams. Anyone who has been scammed should report it to Better Business Bureau's Scam Tracker to prevent others from being swindled.

Though social media is an increasingly common place for scammers to seek a person out, it is not the only place. Johnson pointed out responding to online surveys or different websites can also give an outside party access to your information.

"Think about all the online shopping that we do. Think of all the interaction we have with different websites, our favorite clothing stores," Johnson outlined. "We'll give them our email address and then they capture that, and they can share that with third parties."

People should check to see if websites they frequent share information about them with third parties. This can prevent any other personal information from getting into a scammer's hands. However, Johnson added a lot of information is already on the internet, making it much harder to get it back.


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