The Better Business Bureau has identified the most dangerous scams that Canadians encountered in 2022. The organization received 1,297 reports of fraudulent activities throughout the year and created a list of the 10 riskiest types of scams. It was made public on Monday (March 6).

At the top of the list is now home improvement scams. Last year, it was in the fourth place. This kind of fraud only represented 6.2% of all the reports in 2022, but the BBB rated it as the most dangerous because of how likely people are to fall for it and the amount of money it can cost them.

According to the BBB, 78% of victims were duped by these scams and lost an average of $1,900 each. To prevent falling for them, the BBB advises people to avoid cash deals, high pressure sales, upfront payments and a lack a written contract. The BBB also recommends people to always verify company references and check their local building laws.

The most common scams that were reported in 2022 were online shopping. The BBB claims that such scams made up 30% of the complaints received. However, they were rated 6th-most risky because of the low loss rate (102%).

On the other hand, investment scams accounted for the highest average loss. Although they only represented 2.9% of the 2022 reports, the average loss per victim was $14,000.