Analysis of Top Consumer Phone Scams in 2016

This research report from Pindrop Labs analyzes the prevalence and types of consumer phone scams in 2016. It presents key findings from a survey indicating that 11% of U.S. consumers reported financial losses due to telephone scams, amounting to approximately $7.4 billion. The report details the methods used by scammers, particularly focusing on robocalls, which accounted for a significant portion of the scams analyzed. The study highlights that 29% of robocall scams targeted small business owners, exploiting their lack of knowledge about online search optimization. Additionally, the report outlines how fraudsters adapt their tactics based on current events, such as tax season or political elections. The top scams identified include Google business listing scams and loan-related scams, with detailed descriptions of their operations. The report concludes with consumer protection tips, emphasizing the importance of registering with the National Do Not Call Registry and using call-blocking services to mitigate risks associated with unsolicited calls.