March 24, 2021 – For anyone thinking of home renovations, the Better Business Bureau is recommending citizens to use caution when hiring a contractor for home improvements. Home improvement scams in 2020 placed third on the Better Business Bureau’s annual Scam Tracker Canadian Risk Report. The report used a three-dimensional approach to measuring scams: exposure, susceptibility and monetary loss.
According to the BBB, home-improvement scams had a low exposure rate of just 2.9 per cent, but the susceptibility rate was high at 73.9 per cent, with consumers losing a median average of $1,000. The top two scams, respectively, were the advance-fee loan and online purchases. Global News reports. | READ MORE