Despite the rise of sophisticated cryptocurrency scams and ransomware schemes, phone scams continue to trick Americans out of tens of billions of dollars each year.
“It is very cheap to set up an autodialer and connect a large number of phone numbers to it. You can make millions of calls in a short amount of time,” said Clayton LiaBraaten, Senior Executive Advisor, Truecaller. “This is a numbers game.”
Phone fraud is on the rise. Truecaller, an app that blocks nuisance calls, about 70 million Americans will lose money to phone scams in 2022, with those scammers making about $40 billion in total. Phone fraud includes fraud that begins with a phone call or text message.
Watch the video above to learn more about why phone scams are still so prevalent, how people are fighting them, and how to avoid falling victim to them.
https://www.cnbc.com/2022/11/05/how-phone-scammers-tricked-americans-out-of-tens-of-billions-of-dollars-in-2022.html How phone scammers tricked Americans out of tens of billions of dollars in 2022