Despite the rise of sophisticated crypto fraud and ransomware plots, phone scams continue to deceive Americans by tens of billions of dollars every year.
“It is very economical to set up an automatic dialer and put a bunch of phone numbers into it, whether they are random or very intentional by geography or demographic, and make millions of calls in a very short period of time,” said Clayton LiaBraaten, senior executive. advisor to Truecaller. “It’s a numbers game”.
Phone scams are on the rise. Truecaller, which creates an app that blocks spam calls, estimates that nearly 70 million Americans lost money to phone scams in 2022, and those scammers managed to make nearly $ 40 billion in total. Phone scams include scams that start with calls and text messages.
Watch the video above to learn more about why phone scams remain so prevalent, how people are fighting against them, and how not to fall victim to them.