In this era of modern technology, where email, video conferencing, and text messaging are prevalent, voice calls still hold a special place in our communication preferences. However, scammers are well aware of this and exploit our vulnerability during phone conversations. With the ability to instantly engage us in conversation, scammers, including robocallers, use classic social engineering techniques to deceive us.
To combat this growing threat, individuals must become more adept at handling suspicious phone calls. One common warning sign of a potential scam is the infamous “Scam Likely” label displayed on incoming calls by carriers. This label indicates that the caller has malicious intent, and phone companies use various methods such as customer reports and network analytics to identify such calls.
Research conducted in 2023 revealed a concerning rise in phone fraud and spam, with 28% of unknown calls being classified as fraudulent. Despite a decrease in the number of scam calls compared to the previous year, the average financial losses for victims skyrocketed by 527% annually to $2,257.
Scammers employ various techniques to obtain phone numbers, including scraping them from public social media accounts, data breaches, phishing emails, data brokers, and automated software generating random numbers. These scams not only result in financial losses but also consume significant amounts of time, with victims spending nearly eight hours annually screening nuisance calls.
The most common types of phone scams include impersonation scams, remote access/tech support scams, investment scams, prize draw scams, telemarketing calls, and robocalls. While legitimate automated calls can offer convenience, they also provide a platform for scammers to conduct large-scale fraud. The Federal Trade Commission (FTC) received 1.2 million complaints about robocalls in 2023, indicating the pervasive nature of this issue.
To protect oneself from scam calls, individuals can rely on carrier-provided warning labels and utilize tactics such as signing up for the Do Not Call registry, contacting data brokers to opt-out, and blocking known spam numbers. It is essential never to disclose personal or financial information over the phone or grant remote access to suspicious callers.
Governments worldwide are taking action to combat fraudulent robocalls, with regulators imposing hefty fines on companies involved in facilitating scams. Despite these efforts, the lucrative rewards for scammers remain enticing, emphasizing the importance of individual vigilance in dealing with nuisance calls. By adopting proactive measures and being cautious in phone interactions, individuals can safeguard themselves against falling victim to phone scams.