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How Phone Scams Tricked Americans Out of $40 Billion!

Fan­tas­tic video from CNBC YouTube chan­nel.  Accord­ing to CNBC report­ing, despite the rise of sophis­ti­cat­ed cryp­to frauds and ran­somware plots, phone scams con­tin­ue to trick Amer­i­cans out of tens of bil­lions of dol­lars each year. It’s not only old­er peo­ple who fall for such phone scams. Young peo­ple and men get tricked the most. “It’s very cheap to set up an auto­mat­ic dialer and to plug a bunch of phone num­bers into it, whether they’re ran­dom or they are very inten­tion­al by geog­ra­phy or by demo­graph­ic, and place mil­lions of phone calls in a very short peri­od of time,” said Clay­ton LiaBraat­en, senior exec­u­tive advi­sor at True­caller. “It’s a num­bers game.” Phone scams are on the rise. True­caller, which makes an app that blocks spam calls, esti­mates that near­ly 70 mil­lion Amer­i­cans have lost mon­ey to phone scams in 2022, and that those scam­mers made off with near­ly $40 bil­lion in total. Phone scams include frauds that begin with calls and text mes­sages. Watch the video above to learn more about why phone scams remain so preva­lent, how peo­ple are fight­ing back against them and how not to become a vic­tim.

Pro­duced by: Anuz Tha­pa Edit­ed by: Den­nis Dono­van Nar­rat­ed by: Jor­dan Smith Addi­tion­al cam­era: Chris­t­ian Nun­ley Graph­ics by: Jason Regi­na­to

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