Team Clark is adamant that we will never write content influenced by or paid for by an advertiser. To support our work, we do make money from some links to companies and deals on our site. Learn more about our guarantee here.
Those robocalls that you get every night aren’t just annoying, they can also be very costly if the call is part of a sneaky scam.
A Harris Poll found 11% of American adults reported they lost money to a telephone scam last year. And according to that survey, 27 million Americans lost $7.4 billion to phone scams, with the average loss of $274 per victim.
Read more: This text message scam can leave you with an empty bank account
To learn more about this issue, Pindrop Labs analyzed more than 100,000 calls, many of them robocalls. In addition to quick money, they found scammers are often trying to obtain personal information to steal your identity.
Curious about the most common phone scams? Take a look at the results from Pindrop and read on for more details:
The most popular phone scam targets small business owners. Callers are told there’s a problem with their Google business listing and that it can be resolved for a fee. The scammers are usually trying to get credit card information. Phony “search consultants” for Yahoo and Bing have been known to target businesses as well.
These robocalls either offer to help lower interest rates or threaten that loans are past due. Scammers will often use information acquired from legitimate online loan applications to fool victims.
Read more: Scam alert: Robocalls for lower interest rates
In this scam, callers tell victims that they’ve been selected to receive a free vacation. But what they’re really after is your credit card information. The fraudsters will claim they need your credit card to pay for “tax” or additional fees.
The analysis found that scams are often tied to current events, so be wary of any political calls before the November election. The scammers may ask for donations or pry for personal information.
This robocall asks for sensitive personal information after telling consumers that their local business has been flagged by online maps verification. The information obtained can be used to take control of accounts.
The promise of a lower monthly electricity bill leads some people to give up their personal information. The bad guys claim to be from your electric company, and they say the offer is ‘now or never’ or ‘limited time.’
This scam seems vague, but the caller will say they have an urgent message concerning ‘important personal business.’ The victim is then instructed to press 1 to hear the message. Pindrop Labs researchers think it’s actually a fake debt collection scam.
Due to many shutdowns by the FTC, the analysis found credit card scams are falling in popularity. The scammers claim they can help you pay off your credit card debt faster, but it’s just a trap. The callers will try to confirm personal and financial information, which they can use to steal your identity.
In the scam, victims are offered a ‘free’ security system that comes along with hefty administrative fees. The scammers will convince people to give up their credit card information, which can result in identity theft.
Read more: Top 10 consumer complaints in America
Senior citizens are frequently targeted by fraudsters. The scammers will call about things like Medicare, anti-aging products and cemetery plots. Their goal, like the other scams, is to obtain personal information. In the case of seniors, they’re often targeted because they may have a lot of money in their accounts or retirement funds.
Read more: Beware of the one ring scam on your phone
This post was last modified on March 22, 2017 4:19 pm
If you've been considering signing up for one of the Chase Sapphire credit cards, now…
The costs associated with owning a home go way beyond the amount on the mortgage. …
Inflation hits people on a fixed income the hardest. Say you're retired. You're living off…
Deciding to save and invest are great habits. But once you check that box, your…
If you're considering subscribing to Fubo, you need to be comfortable missing out on some…
Are you looking for a way to earn 2% back on every purchase you make…