Phone Scammers Have Lured Almost $ 30 Billion From Americans In The Past 12 Months

Bottom line: App makers, wireless carriers, and even the FCC have made concerted efforts in recent years to combat robotic calls and spam, but according to the latest data from Truecaller, they are fighting a losing battle.

The latest version of it spam and fraud reportThe Swedish company notes that 59.49 million Americans have reported lost money to phone scams in the past 12 months. This is more than 56 million in the same period a year earlier, the highest recorded since the company began keeping records seven years ago.

Truecaller said 60 percent of the victims were tricked by attackers and that the average loss was $ 502 – up from $ 351 from the previous year, or 43 percent. In total, the scammers stole about $ 29.8 billion.

Scammers have taken advantage of the ongoing pandemic. Over the past 12 months, 59 percent of Americans have received spam calls or text messages related to Covid-19, according to Truecaller. Unsurprisingly, the company fully anticipates a rise in Covid-19 spam next year.

Truecaller says it may surprise some that young men and women are more susceptible to phone scams than older people. And across all age groups, men are more prone to cheating than women.

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