With technology constantly evolving, Scam calls are becoming more prevalent as fraudsters look to take advantage of unsuspecting callers. According to a recent report from First Orion, the state of Scam Calls in 2021 has drastically changed from 2020.  

The report detailed an astounding 118% increase in scam calls alone, emphasizing just how quickly these types of fraudulent calls seem to be on the rise. Although these scam calls can range from pretending to offer assistance with technical issues to pretending to be a family member in need, they ultimately have the same goal – to extract money from unsuspecting victims. 

Measuring the Impact of Scam Calls 

Scam calls have become a major issue for people all over the world, with the United States being no exception. According to Truecaller, the financial impact of these calls on Americans is quite significant. In a recent report, the company found that in the year leading up to June 2021, Americans lost a whopping $29.8 billion to scam calls. These losses have been fueled by the increasing sophistication of scammers who use various tactics like phishing, pretexting, and social engineering to trick people into divulging their personal and financial information. 

According to a 2022 by Hiya report, the cost per victim of scam calls has also been on the rise. 

In 2021, scam Phone calls cost their victims an average of nearly $600 which marks a more than threefold increase from the previous year’s losses ($182 on average). This is a significant financial burden for the victims, many of whom are already facing financial hardships. 

In addition to the financial impact, these calls also drain valuable resources from law enforcement agencies and businesses that have to spend time and money investigating and mitigating the effects of scam calls. They also erode the trust between businesses and their customers, leading to a negative impact on the economy. 

Types of Scam Calls to Look Out For 

As technology continues to evolve, so do the methods used by fraudsters to scam unsuspecting victims. One of the most prevalent forms of fraud today is phone scams. According to the Federal Trade Commission (FTC), telephone was the method of contact for 36% of fraud reports when a method was identified. These scams are becoming increasingly sophisticated, making it more difficult for people to identify when they are being targeted. 

One of the most common types of phone scams is neighborhood spoofing. This occurs when scammers manipulate the caller ID to make it appear as though the call is coming from a local number. This technique is effective because people are more likely to answer calls from numbers that they recognize. First Orion’s scam trends report found that in 2018, nearly 70% of scam calls in the US were using neighborhood spoofing. 

Another common type of phone scam is the IRS scam. In this scam, fraudsters impersonate IRS agents and threaten victims with legal action if they do not pay back taxes. They may demand payment through wire transfer, prepaid debit card, or gift card. It is important to note that the IRS will never call to demand immediate payment, nor will they threaten legal action. 

Other types of phone scams include tech support scams, where scammers pretend to be tech support agents and ask for access to a victim’s computer, and charity scams, where fraudsters pretend to be from a charity organization and ask for donations. 

How to Avoid Falling Prey to Scam Callers 

Unfortunately, as much as smartphones phone are essential to our daily lives, fraudsters have found ways to use them to commit cybercrimes like identity theft. These scam callers are unscrupulous individuals who target unsuspecting people through deceptive phone calls in the hope of tricking them into providing sensitive and personal information. 

To avoid falling prey to these types of cons, you have to be vigilant about protecting your personal information. Always be suspicious of calls from unknown numbers, especially those that offer deals that sound too good to be true. Additionally, don’t be quick to provide personal information, such as your social security number, credit card details, or bank account information, over the phone. 

You can also use technology to block calls from unwanted or suspicious numbers. Most smartphones have built-in features that allow you to block calls and messages from specific numbers. You can also install third-party apps for more advanced blocking features. 

If you’ve received a call from a number you’re unfamiliar with, a reverse phone search can help you separate legitimate callers from criminals. This is where PeopleFinders comes in handy. With just a phone number, PeopleFinders can help you uncover the identity of the caller, providing you with their name, address, and other contact details – helping you establish whether the caller is legitimate or a scam artist. 

Conclusion 

Despite the increase in phone scams, there is still a lot we can do to protect ourselves and our loved ones. By learning about how scammers operate and researching how to identify a scam call, we can be more informed about our conversations with strangers over the phone.  

PeopleFinders has some of the most detailed background check information available – with a collection of over 120 billion records full of useful information that can help you find out more about anyone suspected of attempting to commit a cybercrime over the phone. With better public awareness, citizens can take proactive measures against these calls and be less vulnerable to financial scams. 

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