Colorado Ranks in Top 5 of Worst States for Being Financially Ripped Off
It will make any Coloradan's blood boil: Finding out you've been the victim of a scam, or have been hacked: You've been ripped off. Many times, it wasn't even something you participated in.
To find out that, in a study done by Tipalti (a $43 billion global payments software company,) Colorado sits within the top 5 states that have the worst rates for financial fraud should put us all on notice: "Watch yourself."
As technology continues to advance, so do the skills of those who want your money.
If could have been that your information got stolen in a data breach. It could have been that you got burned by someone successfully phishing your information. It could have been you paid for something, and it was a scam.
Thinking of how Colorado is in the top 5 for these things happening, can make you paranoid; it makes it hard to trust any email, any phone call, or any internet purchase.
You're right to be cautious, but knowing that Colorado is on "their" list, will make us all act as smart as possible.
WHAT ARE THE TOP WAYS COLORADANS ARE GETTING RIPPED OFF?
- NON-PAYMENT/NON-DELIVERY - Non-payment is when you sell something, but never get the money; Non-delivery is when you pay for something and never get that product or service. In 2022, nearly 52,000 people in the U.S. were ripped off in one of these two ways.
- PERSONAL DATA BREACH - A breach of security where unauthorized parties get a hold of your sensitive information. According to the study, in 2022 there were over 1,800 incidents of data breach in the U.S. with 422 million records compromised.
- PHISHING - This is the #1 form of financial fraud in the U.S. in 2022, over 300,000 Americans were tricked into giving out their sensitive information or installing malware.
WHERE DOES COLORADO FALL WITHIN THE TOP 5 STATES FOR FINANCIAL FRAUD?
Tipalti's study found Colorado has the 5th worst rate of financial fraud in America, with 200 victims per 100,000 people. Nevada was the worst (#1) with 286 per 100,000. Colorado's neighbor, Kansas, faired among the best with only 82 per 100.000.
Pass along this information to friends/loved ones; the more of us who know that Colorado is "ripe" for rip-offs, the better the chances that we won't be victims.