Better Business Bureau warns phishing scams doubled in 2023

CHICAGO (WLS) -- The Better Business Bureau is releasing a new study Thursday which shows phishing scams nearly doubled in 2023.

Scam Tracker reports more than 9,000 scams last year. Reports so far indicate another record year is likely for 2024.

BBB President Steve Bernas joined ABC7 to talk about what phishing scams are, what some red flags are and what people should do if they see a red flag.

The study found that:

-Phishing, despite being one of the oldest and most well-known scam techniques, continues to be successful, because of its adaptability to various forms of communication.

Phishing scams target both individuals and businesses, with business losses totaling in the billions over the last three years, according to the Federal Bureau of Investigation and supported by BBB Scam Tracker reports.
Because phishing techniques change so often, it can be hard for the public and authorities to keep up with the ever-changing defenses needed.
Some red flags the BBB warns may be phishing scams include:
Claims about suspicious activity or fraudulent logins
Reaches out about unexpected problems with an account
Tries to confirm financial information
Requests to click a link to make a payment
Offers government refunds
Sends unasked for coupons
Uses generic message paired with logo of a well-known company
Speaks in typo-filled and urgent language
Pretends to be a known authority figure requesting a business payment

For more information, visit BBB.org/scamstudies for more information.