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Best Buy is most impersonated company by scammers, FTC says

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Best Buy and its Geek Squad tech support brand was the most frequently impersonated company by scammers last year, according to the FTC.

Best Buy and its Geek Squad tech support brand is the most impersonated among scammers, according to a new report from the Federal Trade Commission. The newly released data, published on Friday, said the FTC received about 52,000 reports of scammers impersonating Best Buy or its Geek Squad, followed by about 34,000 reports about scammers impersonating Amazon. PayPal was the third-most impersonated company with about 10,000 reports from consumers, the agency said.

People reported losing a total of $60 million to Microsoft impersonation scams and $49 million to Publishers Clearing House scammers, the agency said.Scammers requested a variety of payment methods, including cryptocurrency and bank transfers, which were the top methods used by investment scammers, according to the FTC data.The top payment apps and services people reported paying with were PayPal, CashApp and Zelle, while the most reported gift cards were Apple and Target.

 

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