Phone Scams Cause Americans to Lose $10.5 Billion in 2018
Millennials and men are more often fooled by scams and robocalls, says a new report.
The report from Truecaller, a caller ID and spam call blocking app, says that men and younger adults are the groups most likely to fall victim and lose money to a phone scam – particularly men aged 18-34. Despite receiving lower than average spam calls per month (21) – and half the number of calls reported by men over 65 (47) – men aged 18-34 also reported the highest instance of lost money. Two in five men aged 18-34 (40%) claimed they’d been victimized by a phone scam in the past 12 months compared to only 13% of men aged 35+ and 28% of women aged 18-34. Overall the number of men being victimized (21%) was a significant 62% higher than women (13%).