If someone claims to be from Geek Squad’s tech support team, they might be an imposter trying to steal your money. According to a new report from the Federal Trade Commission (FTC), electronics retailer Best Buy and its Geek Squad service were the most impersonated brands in 2023. Amazon and PayPal followed closely behind. Scammers use various methods, including phone calls, emails, and social media, to trick customers, costing them over $1 billion annually.
In 2023, around 52,000 complaints were submitted to the FTC about scammers posing as representatives from Best Buy or Geek Squad. A common tactic involved sending fake Geek Squad emails claiming that a service you never signed up for is about to renew, costing several hundred dollars.
Consumers reported losing $15 million to scams related to Best Buy and Geek Squad last year. In response, Best Buy emphasized their commitment to customer safety, noting their team of experts and resources dedicated to preventing fraud and educating consumers on how to spot scams and protect themselves. The company urges customers to report suspected scams by calling their support line.
While Best Buy and Geek Squad received the most complaints, scammers targeting Microsoft and Publishers Clearing House caused even greater financial losses, with consumers reporting losses of $109 million in 2023. Other frequently impersonated companies included Amazon, PayPal, NortonLifeLock, Apple, Comcast Xfinity, Bank of America, and Wells Fargo.
Scammers typically reached consumers through email and phone, but also used social media platforms like Facebook and Instagram for fake online shopping solicitations.
How to Avoid Scams
The FTC offers the following tips to protect yourself from scammers:
1. Be Cautious with Payments: Stop and think before you pay someone you don’t know, especially if they create a sense of urgency. Anyone rushing you to send money, buy gift cards, or invest in cryptocurrency is likely a scammer.
2. Verify Before You Click: Don’t click on links in unexpected messages and don’t trust caller ID. Instead, contact the company using information from their official website.
3. Legitimate Payment Methods: Legitimate businesses will never demand payment through gift cards, cryptocurrency, money transfer, or a payment app. Be wary of anyone requesting payment in these forms.
By staying vigilant and following these tips, you can protect yourself from falling victim to scams. If you encounter any suspicious activity, report it immediately to the appropriate company or authority.