BBB Partners With FTC, Law Enforcement to Stop Small Business Scams

The Better Business Bureau (BBB) (bbb.org) has partnered with state and federal agencies on a research project called “Operation Main Street: Stopping Small Business Scams” – an initiative targeting operations seeking to defraud small businesses. BBB joined with the Federal Trade Commission (FTC), the U.S. Postal Inspection Service and two U.S. Attorneys’ Offices to launch the effort.

Addionally, BBB announced a new research report, “Scams and Your Small Business.” It provides substantial new insights into how fraud affects small businesses. The study suggests that scam activity directed at small businesses is growing, that these scams pose a significant risk, and they can result in a higher monetary loss than those targeting individuals. In addition, the FTC and the BBB have created new business education materials designed to help small business owners and their employees avoid, identify and report scams.

“Scams are a significant and growing problem for small businesses,” said Beverly Baskin, president and CEO, Council of Better Business Bureaus. “Nearly two thirds of those we surveyed said their business had been targeted by a scammer in the past three years, and many said that their businesses suffered a loss of consumer trust as a result. BBB is pleased to partner with the FTC to help small businesses spot and avoid scams and fraud.”

To learn more about the entire study, visit bbb.org.