Millennials and men are more likely to be fooled by scams and robocalls, a report says

File photo.
(REUTERS/Kacper Pempel)

Phone scammers are making more money than ever, and their easiest victims are millennials and men, according to a new report.

The americans have lost an estimated $10.5 billion to phone fraud in the last 12 months, up from $8.9 billion in the preceding period of 12 months, according to a report from Truecaller, caller ID, and spam call blocking app.

In Truecaller the fifth annual survey, the men and the millennials are the most likely to lose money to a phone scam, and particularly men in the age between 18 and 34 years old.


“We have noticed in recent years that the continuous data shows that men, in particular millennium-men are the most vulnerable to phone scams,” Truecaller, told Fox News in an e-mail. “This shows that despite the millennials are growing up surrounded by technology, really anyone can be a victim when it comes to a phone scam.”

And the chances are greater. Nearly 1 in 6 Americans report losing money to scams of the past 12 months, compared with 1 in 10 in the previous period, Truecaller said. Of lit, the average loss was $ 244 per victim.

An increase in “persistent spam calls” is one of the factors behind the numbers, up 39 percent compared to the previous period of 12 months, Truecaller added. In the most recent period of 12 months, spam calls, an average of 32 per month (while spam sms messages an average of 11 per month), compared with 23 calls in the prior period. Most of them were robocalls, according to the report. That comes to about 97.2 billion in spam-related calls and more than 33.4 billion spam texts in the U.S. alone.

The scams claim to be “great deals”, such as low-interest loans and better credit card rates the most common scam in the past 12 months. But more than half of Americans have a negative unsolicited calls, including “problems with account”, or “you’re money or political calls.

People avoid phone calls

To avoid speaking on the phone, more than half of Americans, 55 percent, prefer to use text, social media apps and e-mail, the report said.

This figure jumps when the younger Americans (aged 18-34), with 73 percent saying they favor of other forms of communication “to avoid talking on the phone.” That is much higher than for older Americans (55+), that is not the way to talk on the phone nearly as much.

“Despite the increased awareness of scam/spam calls, the refinement in that people are being scammed is integrated with new technology being developed, such as AI and speech recognition,” Truecaller, told Fox News.

“Scammers are able to reach so many people, and the data shows that many of these people are the victim, not once, but several times. Robocalls also have the ability to call thousands, if not millions, of people at the same time, Americans have become on a much larger scale, which shows no signs of slowing down,” Truecaller added.


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