Big Telecom Companies Ignore Phone Scammers

Last week, one of my colleagues posted an urgent message on our internal idea-sharing group.

She’d received a robocall from someone purporting to be from the Social Security Administration.

It said: “We had to suspend your Social Security number for suspicious activity. Press 1 to continue.”

Her heart skipped a beat, she said … and she’s decades away from reliance on Social Security.

Fortunately, she didn’t “press 1 to continue.” She realized she was being scammed.

She wanted to warn us.

Imagine how a retired person would react if a caller said they would lose their Social Security benefits, unless they handed over personal information. Or if they were threatened with arrest, deportation or loss of their driver’s license unless they paid “back taxes” to the “IRS.”

All too often, vulnerable people fall for it … and the price is reckoned in more than mere money.

The Wall Street Journal recently reported that 82-year-old Marjorie Jones of Moss Bluff, Louisiana, depleted her retirement savings, took out a reverse mortgage and cashed in a life insurance policy.

She gave it all to a scammer who promised her a multimillion-dollar sweepstakes jackpot if she paid the taxes on it upfront.

When she realized what had happened, she committed suicide.

Marjorie is one of tens of thousands of elderly Americans losing everything to a scam … and it’s getting worse by the day…

The Scum of the Earth vs. Grandma

Telephone scammers steal $37 billion a year from elderly Americans.

And it’s about to get much, much worse.

I speak from experience. Two older relatives contacted me in the last few days about suspicious calls.

I get dozens of scam calls every day on my own landline and mobile phone. I even get scam calls on my private, unlisted Skype number.

It’s gotten so bad that I barely answer any calls anymore unless it’s a number already in my address book.

I’m not alone.

Online caller-ID and call-blocking service provider First Orion recently released a report on the state of phone scamming.

First, it said, nearly 70% of frauds in 2017 were perpetrated by phone. Email and web fraud, once ubiquitous, are now less than 10% of the total. Spam filters are working.

Reflecting this shift, First Orion found that scam calls in the U.S. rose from 14.4% of all calls in the second quarter of 2017 to over 31% just a year later.

It predicts scams will rise to over 42% of all calls by March 2019.

Let that sink in: Just a few months from now, nearly half of all calls in the United States will be from scammers.

A 1-Armed Race

There’s an arms race on between scammers and U.S. phone companies.

The scammers are winning … because the phone companies aren’t really fighting back.

For example, First Orion found that when U.S. carriers adopted technology to block landline scams, scammers quickly shifted to mobile.

As carriers tried to catch up, scammers adopted “neighborhood spoofing.” This uses a number matching the area code and three-digit prefix of the target, increasing the likelihood of an answer. By early next year, over 90% of scam calls will use neighborhood spoofing.

To make matters worse, the “spoofed” numbers are valid numbers owned by real mobile customers. The scammers use technology that presents these real numbers as their own caller ID.

As disgusted recipients report these “spoofed” numbers to one of the growing number of services that offer personalized call blocking — I use this one — millions of innocent people will be shut out of the U.S. phone system.

If We Can Send a Man to the Moon…

Why on Earth is this happening in the most advanced country in the world?

From the scammers’ perspective, the answer is simple. They want to get vulnerable people like Marjorie Jones on the line so they can steal their money.

But to get through to them, they must robodial thousands of numbers until someone answers.

With the latest technology, doing that is practically costless. That’s why the entire nation faces an epidemic of calls from increasingly sophisticated scammers.

But that doesn’t explain why neither U.S. phone companies nor the U.S. government has done something to stop this.

Let’s dispense with the government angle first.

Under Chairman Ajit Pai, the Federal Communications Commission is chiefly concerned with rolling back regulations that impede the monopoly profits of Big Telecoms. Consumer welfare is a distant second … if that.

U.S. telecoms companies, on the other hand, suffer no real harm by allowing the scammers to dial their customers. It doesn’t cost them anything … whereas adopting the technology to block scammers would.

Big Telecoms can afford to ignore the problem. Most Americans have a choice of only one or two mobile providers. It’s not like people are going to stop using their phones, right?

Even if 90% of the calls they get are scams, they reckon, people will continue to pay their fat monthly contract fees so they can call friends and family.

In other words, with no real consequences facing them, U.S. telecoms companies are essentially ignoring the problem.

Which means it’s up to you to solve it.

And next week, I’m going to tell you how.

Kind regards,

Ted Bauman

Editor, The Bauman Letter

Previous Post
Next Post

Comments

storno brzinol

Great write-up, I am regular visitor of one’s web site, maintain up the excellent operate, and It’s going to be a regular visitor for a lengthy time.

Vjnenu

Lwedgz – natural ed pills Xtwdbg

Fkmavw

dapoxetine 90mg pills – cialis capsules online cheapest generic cialis

Europa-Road gépszállítás

Pretty component to content. I simply stumbled upon your web site and in accession capital to claim that I acquire actually loved account your blog posts. Anyway I’ll be subscribing to your feeds or even I achievement you get entry to consistently rapidly.

Pmsljp

ed pills that work – ed meds online without doctor prescription cheapest ed pills online

Nysdyh

can you buy prednisone – prednisone 2.5 mg price prednisone 60 mg daily

Kilwkm

provigil weight loss – site provigil online

Qklrtj

buy accutane 20mg online – accutane in mexico accutane price online pharmacy

Njqdeu

buy amoxicillin noscript canada – buy amoxicilin 500 mg online mexico amoxicillin price at cvs

Hxklli

generic vardenafil review – generic vardenafil vs low cost generic vardenafil

Ccerfm

ivermectin without a doctor prescription – ivermectin usa ivermectin 50 mg

Gwceho

tadalafil 6mg – tadalafil prices in india cialis prescription discount

Itvsen

oral ivermectin cost – buy ivermectin for humans uk oral stromectol cost

Qrgfqd

order accutane no prescription – accutpharm.com how much is accutane uk

Zsapzg

generic lyrica 2019 – lyrica 50 mg coupon generic viagra online canadian pharmacy

Lquxvr

amoxicillin over counter – amoxicillin for sinus infection amoxicillin 500 mg for sale in canada today

Ebdxda

sildenafil discount generic – where to buy viagra uk female viagra tablet in india

Xlcvta

where to buy tadalafil cheap – cialis 50mg pills order tadalafil from canada 5mg

Cdfgia

stromectol human – buy stromectol online uk order stromectol

Oiugqe

prednisone prices – otc prednisone prednisone 20mg buy online

Aviqkv

modafinil 200 mg – modapls.com modafinil buy

Tqqsww

azithromycin 100mg dose – zithromax medication z pak antibiotics

Vjqbwx

furosemide 160mg daily – furosemide in mexico lasix 20 mg tablet price in india

Cbuugx

clomid price – clomid buy generic clomiphene

Dbepzk

where can i get viagra uk – viagra 100mg tabs generic viagra in us

Ntzgbw

economy pharmacy – cialis mexico cost tadalafil citrate

Nzgoko

stromectol tablets for humans – ivermectin 24 mg ivermectin dosage

Fshojf

legitimate online slots for money – online casinos usa online slots

Pswqky

erectile dysfunction pump – over the counter ed pills walmart buy erection pills

Mdpcly

prednisone 100 mg – prednisone 5mg pills prednisone 1 mg price

Ronors

cheap brand viagra – generic viagra pharmacy ordering viagra

Hsooqw

buy brand name cialis – Discount cialis online canadian pharmacy uk delivery

Ddqpfr

ivermectin brand name – stromectol canada ivermectin 3 mg

Lhskgk

best ed medication – home remedies for ed best otc ed pills

Ogfjss

buy ventolin inhaler – order Albuterol ipratropium albuterol

Pnuegy

doxycycline 2014 – doxycycline singapore pharmacy doxycycline online india

Dxesjb

where can i buy neurontin from canada – neurontin pills medication levothyroxine

Ligfvf

generic viagra online mastercard – sildenafil 25 mg uk

web hosting there

Pretty! This has been an extremely wonderful article.

Thanks for providing this information.

Goyjli

cialis 5mg price in canada – tadalafil uk prescription cialis australia paypal

the quest bars

Does your website have a contact page? I’m having trouble locating it but, I’d like to send you
an email. I’ve got some ideas for your blog you
might be interested in hearing. Either way, great site and I look forward to seeing it
improve over time.

Ixtaos

buy vardenafil with no prescription – vardenafil 20 mg price vardenafil generic date

http://t.co/17QzETrAgr

What’s up friends, good post and pleasant urging commented here, I
am in fact enjoying by these.

Ydtqvp

ivermectin buy australia – ivermectin pill cost order stromectol

but scoliosis surgery

Hello friends, pleasant paragraph and nice urging commented here, I am truly enjoying by these.

bitly.com

Hi mates, fastidious post and fastidious arguments commented at this place,
I am truly enjoying by these.

Gckmix

cost of 2.5mg prednisone – average cost of generic prednisone prednisone 20mg cheap

tinyurl.com

I every time emailed this weblog post page to all my friends, since if like to read it next my friends
will too.

Jlvdqt

accutane online pharmacy uk – buy generic accutane online cheap accutane cheapest price

bit.ly

What’s up it’s me, I am also visiting this web site on a regular basis, this site is truly good and the visitors are genuinely sharing fastidious thoughts.

scoliosis surgery or

I have to thank you for the efforts you’ve put in writing this site.
I really hope to view the same high-grade blog posts
by you later on as well. In fact, your creative writing abilities has motivated me to get my
very own website now 😉

lasix water pill

cheap lasix lasix 40 price vot Glulp

furosemide 20 mg tablet buy online

furosemide 20 mg cost furosemide is prescribed for vot Glulp

furosemide generic

lasix 40 mg buy lasix without prescription vot Glulp

order lasix

lasix 20 mg price lasix price vot Glulp

http://app.gumroad.com/asmr2021/p/best-asmr-online

Great post. I was checking constantly this blog and
I’m impressed! Very helpful information particularly the last part 🙂 I
care for such info a lot. I was seeking this certain info for
a long time. Thank you and good luck. asmr https://app.gumroad.com/asmr2021/p/best-asmr-online asmr

quest bars where

What a data of un-ambiguity and preserveness of valuable experience regarding unpredicted
feelings. quest bars http://bit.ly/3C2tkMR quest bars

http://bit.ly/3C42OCu

My relatives every time say that I am wasting my time here at
web, but I know I am getting know-how everyday by reading such good articles.
cheap flights http://1704milesapart.tumblr.com/ cheap flights

Zfkmxy

ivermectin 3 mg tabs – xivermectin.com generic stromectol online

http://bit.ly

Howdy very nice blog!! Guy .. Beautiful .. Wonderful ..
I’ll bookmark your blog and take the feeds additionally?
I’m happy to search out so many helpful information here within the publish, we want develop more strategies in this regard, thanks for sharing.
. . . . . scoliosis surgery https://0401mm.tumblr.com/ scoliosis
surgery

http://coub.com/

I’m impressed, I have to admit. Seldom do I come across a blog that’s both educative and engaging, and let me tell you, you’ve hit the nail on the head.
The issue is something too few folks are speaking intelligently about.

I’m very happy that I came across this in my hunt for something regarding this.

scoliosis surgery https://coub.com/stories/962966-scoliosis-surgery scoliosis surgery

ivermectin tablets order

buy ivermectin uk ivermectin buy australia

buy liquid ivermectin

ivermectin 8 mg ivermectin uk coronavirus

Qlmbks

rx doxycycline 100mg – prednisolone 5mg for sale in uk prednisolone for sale online uk

ivermectin cost

purchase oral ivermectin ivermectin human

Fmwzzi

stromectol order online – stromectol 3mg online ivermectin pills for humans

Leave a Reply

Your email address will not be published.