Phone Fraud and Spam Reached All-Time High, Costing Scammed Consumers Nearly $2,300 on Average in 2023
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Thursday, March 28, 2024
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A key takeaway from the report is that while consumers and businesses continue to prioritize voice calls, phone fraud and spam are on the rise – and phone users are paying for it.
Key Points:
- A key takeaway from the report is that while consumers and businesses continue to prioritize voice calls, phone fraud and spam are on the rise – and phone users are paying for it.
- According to Hiya, 28% of all unknown calls in 2023 were fraud or spam.
- Although only 16% of consumers reported losing money to phone fraud in 2023 compared to 22% in 2022, the average financial loss reported by consumers who lost money to phone fraud was $2,257 – a 527% increase over the $360 on average scammed consumers reported last year.
- The average loss reported by consumers in 2023 is nearly 4x what consumers spend monthly on food, per the U.S. Bureau of Labor Statistics .