50 Percent of Cell Phone Calls Scams by 2019
Cell phones are one of the easiest and most convenient methods for connecting with friends and family. But that does not mean that they don’t come with their own troubles. For many, one of the most annoying aspects of owing a cell phone is receiving fake calls and random text messages, albeit, it is a small price to pay. In any event, those who own a cell phone should be warned that they may see an increase in such activity, especially because many are using such calls and messages to conduct scams.
First Orion released a report indicating that fraudulent cell phone call claims rose to 45 percent in 2018. Though it is unclear what the end goals are for many of the calls, many surmise that it is to conduct fraudulent activity. Further, those who manage these scams have become more savvy – they’ve managed to spoof phone calls to make it seem as if a friend or family member is calling. Worse yet, there are very few mechanisms in place that is able to combat against such activity and that can adequately protect consumers.
The most commons scams include robocalls, scam calls, and caller ID spoofing. Cell phone providers are having trouble developing protective procedures. If anything T-Mobile made the move to list fraudulent calls as “scam likely,” and this step may be able to mitigate some of the issues.
In terms of cryptocurrency, the rise in scam calls can have serious effects. Many bitcoin holders have reported that their phone numbers have been hijacked by scammers to remove funds from their exchange wallets. At this point, there does not seem to be any real solution in place. Though some suggest that not answering one’s phone may be a good option – it may not be a realistic one.