(Credit: Rattankun Thongbun via Getty Images)
Be on the lookout for sketchy offers from Best Buy, its Geek Squad division, and Amazon, as they are the most impersonated brands in scams targeting US consumers, according to new data from the Federal Trade Commission.
The FTC is reminding the public to be on guard against phone calls and emails that claim to come from well-known brands but are actually schemes trying to steal your money. It looked at complaints filed with the commission in 2023 and found 52,000 reports related to scammers impersonating Best Buy and its Geek Squad tech support brand.
(Credit: FTC)The FTC received another 34,000 reports about fraudsters impersonating Amazon. Scammers impersonating PayPal logged about 10,000 complaints.
In terms of losses, scams that impersonated Microsoft and sweepstakes provider Publishers Clearing House ended up swindling the most money from consumers. Microsoft scams only generated 7,000 reports, but the activities resulted in a whopping $60 million in losses.
The FTC adds that scammers use a variety of tactics. “For example, phony Geek Squad emails tell you that a computer service you never signed up for is about to renew—to the tune of several hundred dollars,” the commission says. "Microsoft impersonation scams start with a fake security pop-up warning on your computer with a number to call for 'help.' And calls from the fake Publishers Clearing House say you'll have to pay fees to collect your (fake) sweepstakes winnings."
In April, the FTC noted that scammers are increasingly using email and text messages over traditional phone calls to target unsuspecting victims with their impersonation efforts.
(Credit: FTC)"People also told us that they lost the most money on scams that started on social media," the commission added on Friday. "People most frequently named Facebook and Instagram in these reports, and most often reported online shopping scams that started with ads on social media."
To avoid getting scammed, users should look for signs in an email or text message indicating it's a fake message from a brand. This can include asking you to visit a web page that comes from an unofficial, suspicious-looking domain. Many impersonation attempts also use a sense of urgency in an effort to dupe victims.
Users can report such fraud to the FTC, which adds: “Don’t pay anyone who demands that you pay by gift card, cryptocurrency, money transfer, or payment app. Only scammers say there’s only one way to pay.”