From VOIP to Robots: Modern Tech Changes Phone Fraud Landscape

by Sean Michael Kerner

According to Pindrop’s research, 64 percent of fraud calls originate outside the victim’s country.

Phone scam attackers tend not to use landlines; instead, 53 percent of fraud calls come in over VOIP.

Credit card institutions face the highest fraud rates, with one out of every 900 calls being some form of fraud, according to Pindrop.

When it comes to actual fraud financial exposure, brokerages top the list, at $15 million, followed by credit card institutions, at $11 million.

There are multiple phone scams, with tech support calls being the most popular with an average monthly volume of 8 million calls.

Unfortunately, phone fraud isn’t a unique occurrence. Pindrop reported approximately 86.2 million phone fraud calls each month.

While the majority of phone calls still come from humans, Pindrop estimates that 8.1 million U.S. phone numbers receive a minimum of one robocall per week.