Top 10 Phone Scams of 2014

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Auto Insurance

Auto insurance scams account for 5.3 percent of all phone scams.

Scammers call victims to inform them that they are eligible for a lower car insurance rate. Victims are asked to confirm personal details in order to get the rate. Scammers walk away from the call with the victim’s insurance number, name, SSN and more, all of which is used for identity theft. Allstate, Geico and State Farm Insurance have all issued official warnings about this phone scam.

Despite data breaches like the Sony hack dominating headlines, phone fraud is still a common way that criminals are lifting personal data from consumers. Each year, thousands of consumers and businesses lose money to scams conducted over the telephone. These scams can cost victims anything from a few dollars to their life savings. Attackers use a variety of social engineering and manipulation techniques to extort money and personal information from consumers over the phone.

Pindrop Security collected and analyzed consumer phone scam complaints during the first nine months of 2014 to understand the types of scams being conducted, their frequency and timing, and the methods and motives of phone fraudsters. This information provides a unique view into the risk facing consumers.

Pindrop Security expects that the trend of online and retail data breaches will only increase the amount of information available for phone scammers to use against victims, and that the number of phone scam complaints will continue to rise.

This slideshow features the top 10 phone scams of 2014, as identified by Pindrop Security. 

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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