Catherine Rusoff
If someone gets in touch claiming to be a member of the Geek Squad technical support team, they could be an impostor trying to steal your money.
Electronics retailer Best Buy and its tech help arm Geek Squad were the most represented brand in 2023, according to a new report of the Federal Trade Commission (FTC). Amazon and PayPal were the second and third most frequently spoofed companies, the agency said. Scammers deceive customers through multiple channels, including phone, email and social media, robbing them of more than $1 billion a year.
In 2023, consumers submitted about 52,000 complaints about scammers pretending to be representatives of Best Buy or Geek Squad, according to the FTC. One way to contact consumers was via email. “For example, fake emails from Geek Squad tell you that a computer service you never signed up for is about to renew – worth several hundred dollars,” the FTC said in a statement last week.
In total, consumers reported losing $15 million to scams related to Best Buy and Geek Squad in 2023.
“The safety of our customers is extremely important to us. While scams are becoming increasingly sophisticated, we have a team of experts and a range of dedicated resources to help prevent fraud and educate consumers, including how to spot warning signs and protect themselves,” Best Buy said in a statement to CBS MoneyWatch.
Best Buy also encouraged customers to report suspected scams by calling the company’s support line.
While the largest number of complaints were related to Best Buy and Geek Squad, customers lost even more money to scammers posing as Microsoft and Publishers Clearing House.
They reported losing a combined $109 million to scams related to Microsoft and Publishers Clearing House, according to the FTC.
Scammers also often impersonate Amazon, PayPal, NortonLifeLock, Apple, Comcast Xfinity, Bank of America, and Wells Fargo.
Consumers stated that they were most often targeted via email and phone, but that they also received a number of fake messages. online shopping requests on social media platforms including Facebook and Instagram.
Avoiding scams
The FTC offered these tips for consumers to protect their wallets from scammers.
- Stop and think before paying someone you don’t know, especially if they are creating a false sense of urgency. “Anyone who is pressuring you to send money, buy gift cards, or invest in cryptocurrency is almost certainly a scammer,” the FTC said. States on your website.
- Don’t click links in unexpected messages and don’t trust caller ID. Instead, contact the company through the contact information available on its website.
- Legitimate businesses will never require payment via gift card, cryptocurrency, money transfer, or payment app. Be wary of anyone who demands payment in these forms.
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