Crypto Crimes on the Rise!

Cryptocurrency scams climbed to second riskiest in 2021, according to BBB report

Online purchase scams remain #1 riskiest

Scams related to cryptocurrency jumped from the seventh riskiest scam in 2020 to second riskiest in 2021. Although cryptocurrency scams made up only 1.9% of the scams reported to BBB Scam TrackerSM in 2021, according to the Better Business Bureau, the average reported median dollar loss reported for these scams was $1,200, much higher than the overall median dollar loss of $169 for all scam types.

Online purchase scams maintained the top spot as the riskiest; this scam type made up 37.4% of all scams reported to BBB Scam Tracker in 2021, with 74.9% reporting a monetary loss. Employment scams dropped in 2021, from second riskiest to third. The susceptibility and median dollar loss of this scam type dropped slightly, while the number of reported scams increased from 7.1% in 2020 to 7.8% in 2021.

“Scammers shift their tactics constantly and appear to have expanded their use of cryptocurrency to perpetrate fraud,” said Melissa Lanning Trumpower, executive director of the BBB Institute for Marketplace Trust, which produced the 2021 BBB Scam Tracker Risk Report. “Cryptocurrency scams were riskier in 2021 with 66% of those targeted by this scam type losing money and a reported median dollar loss of $1,200. Scammers are using social media and other means to promise investment opportunities with great returns and low risks, which is a huge red flag. We received many reports of people being targeted on a variety of social media platforms after their friends’ accounts were hacked.”

While susceptibility (the percentage of people who lose money when targeted by a scam) decreased in 2021, median dollar loss rose 47.0%. Credit cards remained the highest reported payment method with a monetary loss, followed by online payment systems. Payment made via cryptocurrency that resulted in a monetary loss more than doubled from 2020. The payment methods with the highest median dollar loss were wire transfer ($1,450), cryptocurrency ($1,200), check ($900), and prepaid card ($700).

With regard to age, online purchase scams were the riskiest for all age groups in 2021. Cryptocurrency scams were the second riskiest for ages 25–64. Employment scams were second riskiest and third riskiest across several age brackets. Interestingly, investment scams were third riskiest for ages 18–24 for the first time since BBB began publishing the risk report. The rise of cryptocurrency scams as the second riskiest overall in 2021 may play a role in the rise of investment scams for this age group.

More than 44% reported losing confidence or peace of mind because of the emotional impact of being targeted by a scam and about 35% reported losing personal information. About the same percentage of people (55.5%) reported losing time as reported losing money after being targeted by a scam.

“Time is money, and our survey results reflected this,” Trumpower explained. “We can’t ignore the fact that there are many other non-financial impacts of being targeted by a scam.”

For more highlights from the 2021 BBB Scam Tracker Risk Report, visit BBBMarketplaceTrust.org/RiskReport.

Media Advisor – Mayor Proclamation National Small Business Week

Media Advisory

WHAT:

Mayoral proclamation establishing the annual recognition of National Small Business Week in the City of Corpus Christi from May 2 thru May 6.

WHY:

America’s 30 million small businesses support our economy by representing half of all private sector jobs, payroll and output in the United States. Additionally, a diversity in leadership, vision, experience and perspectives is demonstrated by 30% of small businesses being women-owned, 29% being minority-owned and nearly 10% being veteran-owned.

WHO:   

Corpus Christi Mayor Paulette Guajardo

United Corpus Christi Chamber of Commerce President and CEO John LaRue

Better Business Bureau Regional Director Katie Galan

WHERE:

United Corpus Christi Chamber of Commerce, 602 N. Staples Street, Third Floor Board Room, Corpus Christi, Texas 78401.

WHEN:

Mayor Guajardo is expected to begin the proclamation at 9:30 a.m. on May 6, 2022.

BBB Tip: Support local businesses this National Small Business Week

For over 50 years, the U.S. Small Business Administration (SBA) has organized and hosted National Small Business Week (NSBW) during the first week of May. NSBW recognizes and emphasizes the importance of small businesses in the United States and their contributions to its economic well-being, with 33.2 million small businesses employing 61.2 million U.S. employees in 2021.

“Small businesses make up 99.8% of Texas businesses and employ 45% of the Texas workforce,” said Heather Massey, vice president of communications for BBB serving the Heart of Texas. “They are a key component in the strength of the Texas economy, and the pandemic continues to take a heavy toll on their operations.”

Unfortunately, small business owners often must overcome multiple challenges for continued success and longevity. According to the Bureau of Labor Statistics’ Business Employment Dynamics, the survival rate of small businesses fluctuates significantly in the first 10 years of operation.

  • Approximately 82% of small businesses survive their first year in business.
  • Approximately 55% of small businesses survive their fifth year in business.
  • Approximately 35% of small businesses survive their 10th year in business.

To ensure entrepreneurs have every opportunity to succeed in their business venture, the SBA and BBB offer free webinars, training events and conferences during NSBW and throughout the year. Current and future business owners can attend these events by registering at SBA.gov/NSBW and BBB.org. The theme for NSBW 2022 is Building a Better America Through Entrepreneurship, with SBA’s four-day virtual summit beginning on May 2. BBB is hosting various educational events in communities across Texas, including Victoria, Corpus Christi, Laredo, Boerne and Kingsville. The nonprofit organization is also partnering with the Ingleside Chamber of Commerce to host Small Business Appreciation Day, celebrating the achievements of small business owners and their role in local communities.

“BBB encourages consumers to shop locally during National Small Business Week to show support for their local business community,” said Massey.

This NSBW, show appreciation for the small businesses in your community by following these recommendations from your Better Business Bureau:

  • Shop local. Before buying an item from a major corporation, search your community to determine if a local retailer offers the same thing. Instead of purchasing the newest best-selling book or home gadget from a mass retailer or online, support your local community and meet the small business entrepreneurs in your area. Most companies have an option to order online and pick up at the store for even more convenience when shopping local.
  • Go to the source. While there will always be times when delivery is the best option, consumers should try to go directly to the source of purchase. Third-party delivery services charge restaurants fees to use their services, taking away from the profit margins of small businesses. Small businesses listing their products on “digital shops,” such as Amazon or eBay, may also have a percentage of the sale diverted to the hosting website. By going directly to the source of these products, consumers can support small businesses by removing the middleman.
  • Be social. Support small businesses in your community by “liking” them on social media, writing positive reviews, posting positive photos and tagging the company in your posts. Promoting these businesses through social channels has the same effect as “word-of-mouth” recommendations, enhancing their digital presence.
  • Participate in community events. Farmers’ markets, networking events, community celebrations and national holiday celebrations are fantastic avenues to support locally-owned small businesses, meet your community and learn what local businesses offer. It is also where ideas, opportunities, and knowledge can be shared, strengthening your small business community.
  • Offer assistance. Be generous and forthcoming with any help you can provide to a small business. If you have technical or skilled expertise, such as an electrician or a lawyer, consider offering your services to small businesses in your community at a discounted rate while they recoup from the disruption caused by the pandemic. If you see an area where a small business is struggling that you are knowledgeable of, offer recommendations and build mutually beneficial relationships.

Better Business Bureau hosts a resource center specifically tailored to the needs of small businesses across North America. Consumers can access these resources for free at BBB.org/SmallBusiness.

 

 

Padre Island Housing Data – March 2022

The Local Real Estate Market prices moving up sharply this Spring 2022!
Corpus Christi Association of Realtors continues to show us the data that leans toward Prices Rising in median price homes while Inventory Has been Lowering the past month.

Days on the market for sale have decreased now to an average of 75 days on the market. 29.5% of all the sales in March were priced between $300,000 – $399,999. The Median Price of homes has risen additionally by 11.2% to a price of $395,000 compared to the same month in 2021. The market is certainly holding steady and it’s still a very good time to list your home with inventory still quite low and the spring buyers with cash are looking at getting in the market before Memorial Day.

Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

 

Padre Island March 2022 Data (Click Pic below for Larger Image)

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National Donate Life Month

April is National Donate Life Month. This month is dedicated to educating and encouraging Americans to register as donors of organs, tissue, marrow, and blood. Donating is a generous act that saves thousands of lives annually.

Transplanting organs and tissue is one of the greatest and most successful medical procedures in the history of medicine. Organ transplantations offer patients a chance to give back to their families, friends, and communities. Your generosity can save as many as eight lives through organ donation, bring sight to others with cornea donations, and improve yet another 75 lives or more through tissue donation.

More than 40,000 lives were saved last year due to successful transplants. Organs that can be donated include the heart, kidneys, liver, lungs, pancreas, and intestines. Tissues that can be donated include arteries, bone marrow, eyes (corneas), cartilage, skin, soft tissue, veins, and heart valves and vessels. More than 106,000 men, women, and children are on the transplant waitlist currently. Furthermore, another person is added to the nation’s organ transplant waiting list every 9 minutes. To learn more information about organ donation and transplantation, please visit: https://www.organdonor.gov/.

Anyone can sign up to be a donor despite your age and medical history. In Texas, you can sign up to be a donor at https://www.donatelifetexas.org/register/. You can also sign up to be an organ donor when you apply or renew you Texas Driver’s license through the Texas Department of Motor Vehicles, too. Instructions to receive the Organ Donor designation on your Driver’s License can be found at https://www.dmv.org/tx-texas/organ-donor.php.

Another way to give is by donating blood. Blood donors save many lives every year. In our community, more than 120 people a day must donate blood to maintain the blood supply in the ten-county area served by the Coastal Bend Blood Center. To donate blood, you can find a location to donate blood at http://www.coastalbendbloodcenter.org. To learn more information about blood donation, visit http://www.redcrossblood.org/donating-blood.

If you have questions regarding any of the information mentioned in this week’s article, please do not hesitate to call my Capitol or District Office.  Please always feel free to contact my office if you have any questions or issues regarding a Texas state agency, or if you would like to contact my office regarding constituent services. As always, my offices are available at any time to assist with questions, concerns, or comments (Capitol Office, 512-463-0672; District Office, 361-949-4603).

– State Representative Todd Hunter, District 32

  Rep. Hunter represents Aransas County and Nueces County (Part).  He can be contacted at todd.hunter@house.texas.gov or at 512-463-0672

Padre Island Housing Data – February 2022

The Local Real Estate Market continues to stay in a very positive direction with prices!
The Coastline Team along with the Corpus Christi Association of Realtors continues to keep a sharp eye on market conditions…The 2 notable areas we continue to watch are the decrease in inventory, and a standard 30-year rate fixed mortgage now up a little over 1.5% from the start of the year averaging 4.56% according to BankRate.com

Days on the market for sale have increased now to an average of 103 days on the market. 41.8% of all the sales in January were priced between $200,000 – $399,999. The Median Price of homes has risen additionally by 8.3% to a price of $390,000. The market is certainly holding steady and it’s still a very good time to list your home with inventory still quite low and the spring buyers are already out looking.

Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

 

Padre Island February 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2022

BBB Business: Cybersecurity Tips

BBB Business Tip: The top 5 cybersecurity practices every small business needs to do now

Cybercrime is a big problem for small businesses, and it’s only getting worse. According to McAfee Enterprise and FireEye’s latest report, Cybercrime in a Pandemic World: The Impact of COVID-19, 81% of global organizations have experienced increased cyber threats since the onset of the pandemic, and in 2020, the cost of cybercrimes reached approximately $4.2 billion, with small businesses being a popular target.

Another study revealed that 88% of small business owners felt their businesses was vulnerable to a cyberattack, stating they didn’t believe they had enough resources to protect themselves adequately.

The good news? You can take measures to protect your small business, and you should do so promptly.

Cybersecurity threats are on the rise

According to recent research from Accenture, companies experienced an average of 270 cyberattacks in 2021, a 31% increase from 2020. Of these 270 attacks, which included unauthorized access of data, applications, services, networks, or devices, 29 were successful, compared to an average of 22 successful attacks in 2020.

These numbers reflect the broader trend of an increasingly unsafe world. As technology advances and becomes more interconnected, cyberattacks are becoming more difficult to defend against, resulting in more and more small businesses becoming the victims of cybercrime.

Some of the trending cybersecurity concerns that experts say to be aware of in 2022 include:

  • Ransomware
  • Security holes in cloud-based systems, like email and online platforms
  • Advanced Persistent Threats (APT)
  • High-profile IoT (internet of things) hacks
  • Increased attacks on work-from-home computers/networks due to unpatched systems and architecture weaknesses
  • Social-engineering scams
  • Increased attacks on organizations’ supply chains

The only way to protect your small business from cybercrime is to take preventative action. Cybersecurity is no longer an option – it’s a necessity. It’s time to gather your team and develop a comprehensive cybersecurity strategy for your small business.

Five cybersecurity practices every small business needs to follow 

Cyberattacks are a constant threat to businesses of all sizes. Small businesses are particularly susceptible to data breaches and cyberattacks because they are not always equipped with the proper tools and resources to combat these threats. However, there are still some valuable steps you can take to protect your business. Here are five cybersecurity practices every small business should implement right away:

Train all employees in cybersecurity best practices

One of the most critical security measures for small businesses is training all employees on the best cybersecurity practices. This ensures that your employees understand the risks associated with accessing company data and systems, and it provides them with the knowledge and tools necessary to protect themselves from cybercrime.

To effectively educate your employees, provide them with clear cybersecurity policies that outline the risks, the defenses in place and the steps they can take to protect themselves. You can also offer formal cybersecurity training programs to ensure they are up to date on the latest threats and solutions.

Implement role-based access control (RBAC)

One of the most effective ways to protect your data and systems from cyberattacks is implementing role-based access control (RBAC). RBAC allows you to assign specific permissions to different employees based on their role in the company, controlling who has access to what data.

For instance, you can grant certain employees access to the company’s email system, and grant others access to the company’s digital sales platform. This ensures that employees only have access to the systems and data required to do their job.

This also prevents employees from accessing sensitive data that they don’t need, which reduces their risk of becoming a victim of data theft.

Initiate automated remote backup and data recovery

Protecting data is one of the most crucial cybersecurity practices for small businesses. One of the best ways to protect your data from cyberattacks is by initiating automated remote backup and data recovery, which allows you to store an extra copy of your data offsite in a secure location.

An automated remote backup and data recovery solution not only safeguards your data from cyberattacks, but it also provides you with the ability to restore your data in the event of a data breach.

Multi-factor authentication (MFA)

MFA requires users to provide additional information to prove their identity when accessing company data and systems beyond just their username and password. This additional information may include a code texted to your mobile device, a thumbprint, etc.

MFA makes it significantly more difficult for cybercriminals to access your data and systems, providing an added layer of security if a cybercriminal circumvents your password. While MFA used to stop at two-factor authentication, it now typically involves several steps to ensure the person trying to gain access is who they claim to be.

Secure your Wi-Fi networks

Finally, one of the most crucial cybersecurity practices for small businesses is properly securing your Wi-Fi networks to ensure your employees are connecting to a safe network when they access the internet through your business.

You can secure your Wi-Fi networks by using a VPN to encrypt internet traffic that passes through, using a firewall to block cybercriminals and using a host intrusion prevention system (HIPS) to detect and block cyberattacks.

For more tips on how to maximize small business cybersecurity, visit BBB.org/Cybersecurity.

Padre Island Ready For Spring Break 2022

Thousands Expected to Visit Area Attractions and Beaches March 5 to March 20

Aquarius Street and other critical intersections along Park Road 22, such as Whitecap Boulevard, Commodores Drive, and State Highway, will be monitored by the CCPD. Motorists are urged to leave early for their trip because delays are possible.

The Texas Department of Transportation (TxDOT) has restored the I-37 northbound Labonte Park exit ramp, removing the requirement for a northbound diversion to get to the park.
The SH 358 (South Padre Island Drive) Ramp Reversal Project will stop lane closures for Spring Break in an effort to decrease traffic congestion during the holiday.

The Port Aransas ferry operations will operate at full capacity and are prepared to respond to any surge in late-night traffic. For the latest information and wait times, visit https://twitter.com/PortA_Ferry.

City parks, swimming pools (Collier Pool and Natatorium) will be open with free admission.

Stay connected by visiting Facebook @citygov and Twitter @cityofcc.

Top workplace trends for 2022

BBB Business Tip: 

Small business owners understand better than anyone the impact that COVID-19 has had on the daily workplace. In an instant, millions of jobs went remote in 2020, and remote working continued to be the norm in 2021. When offices and businesses began to reopen, the Great Resignation of 2021 occurred. Many employees chose to remain at home or move to new cities, leaving business owners to fill in the gaps as best as possible.

So, what will 2022 bring to the workplace? Here are some of the trends that are expected to define the daily workplace in the coming year and beyond.

Hybrid or remote work

Even though many Americans have been vaccinated against COVID-19, many businesses continue with a remote or hybrid approach to work whenever possible. According to WeWork, approximately four out of five C-suite executives approve of employees splitting time between the office and remote work, and for a good reason. Location-agnostic work has allowed employees greater freedom and control when balancing multiple responsibilities. Remote work means saving money on overhead costs for business owners, from office space to coffee supplies.

With the stress of the pandemic and a high rate of burnout wearing on the workforce, some companies may let their employees continue to log in from home in 2022. Others may experiment with a hybrid framework that brings workers into the office a couple of days a week.

Focus on centralized communication

Work teams are now distributed across different time zones and continents, making centralized communication essential. With instant messaging, email and other forms of communication popping up all day, some workers may be experiencing communication overload. Focusing on centralized communication can cut through the noise and increase productivity.

A survey by ReportLinker shows that workers feel pressured to respond to instant messaging, which disrupts their workflow. When instant messaging became the primary way to communicate at work, this pressure became even more apparent. Centralized communication through email or more sophisticated software and video tools can resolve this conflict.

According to a recent McKinsey report, connected employees experience a 20-25% increase in productivity, which is done through the implementation of social tools that enhance communication and collaboration.

Prioritizing workplace wellbeing

It’s hard to define workplace wellbeing when many employees work remotely. Now, the kitchen table often doubles as an office place. Sitting in uncomfortable furniture, extending work hours and removing the boundary between work and home can place undue stress on workers’ personal and professional lives.

Addressing workplace wellness in your small business includes keeping workers comfortable and productive while working remotely. It also involves enforcing the importance of work-life balance.

A 2021 Wellable Employee Wellness Industry Trends Report reveals that 88% of employers invest more in mental health initiatives. The survey also enumerates other ways companies are investing in workplace wellness, whether that workplace is a home, an office or a retail store:

  • Telemedicine – 87% of employers
  • Stress management/resilience – 81% of employers
  • Meditation and mindfulness – 69% of employers

These results indicate that employers have recognized the need to support employees in traditional workplaces and their homes. Workplace wellness will remain critical in 2022, and watch for more programs geared towards wellness and how it relates to recruitment and retention to emerge in the coming years.

Hyperfocus on employee retention

As a business owner, you are likely wondering if the Great Resignation will continue in 2022. To keep their employees on board, many companies are focusing more on retention efforts. These efforts are essential, as 73% of surveyed workers were considering quitting their jobs, according to Joblist, underlining the importance of understanding what motivates workers and how to keep them satisfied to avoid losing them to the competition.

Some ways companies can revitalize their retention strategies include:

  • Implement or continue using performance reviews to give and solicit feedback
  • Implement career development strategies, including succession plans for employees looking to grow in their current role
  • Encourage employees to take time off to recharge

Human resources personnel and small business owners can also directly ask employees what would make their work or workplace more inviting.

Diversity, Equity and Inclusion

Diversity, Equity and Inclusion (DEI) initiatives are more critical than ever, with approximately 79% of companies planning to increase their DEI budgets in 2022, per a Traliant report. Companies that emphasize inclusivity and innovation make every employee feel respected and valued. According to a recent Glassdoor survey, 76% of job searchers want diversity in the workplace.

Inclusivity efforts may require you to honestly assess where your organization currently stands. Then, you can create a diverse, equitable and inclusive workplace that your current and future workers will value.

Keep up with current trends with help from BBB

Keeping workers productive and healthy in the office, warehouse, or at home is just one of the ways small businesses can keep up with the latest trends in 2022. Furthermore, businesses can prevent communication overload by centralizing communication, and they can improve employee retention by providing clear career development paths. Following these trends can improve morale and help small businesses recruit new team members in the coming year.

In addition to following these workplace trends in 2022, it’s also helpful to understand the trends that will drive small business growth in the coming year and beyond.

For more business tips to make the most out of 2022, visit BBB.org/SmallBusiness.

Padre Island Housing Data – January 2022

The Local Real Estate Market has started the year off in a positive direction with prices!
As we monitor the market closely…The 2 notable areas to watch are the amount of inventory nearing lows, and a standard 30-year rate fixed mortgage up a little over 1% from last month as we eagerly await the FED’s decision by end of the 1st quarter regarding tapering and its possible impact on market conditions.

Days on the market for sale have decreased to an average of 68 days on the market. 39% of all the sales in January were priced between $300,000 – $399,999. The Median Price of homes has risen substantially by 23.6% to a price of $370,000. The market is certainly holding steady and it’s still a decent time to list your home with inventory still quite low and the spring buyers are already out looking.

Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

 

Padre Island January 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2022