Phone scams target businesses, and use Google, loan, and credit card schemes to drive consumer fraud campaigns, according to Atlanta-based Pindrop Labs' analysis of some 100,000 calls from 2016's first half.
Pindrop also found that 30,000 of the total calls studied were robocalls. While it is unclear what percentage of robocalls is fraudulent, Pindrop Labs revealed the top 40-scam campaigns account for more than 50% of robocalls.
The Pindrop Labs Top Consumer Phone Scamsutilized data collected to understand the types of scams conducted, the frequency and timing of their occurrence, and the methods and motives of the perpetrators behind these attacks.
A Harris Poll survey estimated 27 million U.S. consumers lost approximately $7.4 billion to phone scams, averaging $274 per victim.
"A bigger problem with these consumer phone scams is that often they are just the first step in a larger attack. Scammers are looking for more than quick money from a consumer," Pindrop warned. They are also phishing for personal information in order to steal an identity and enable an account-takeover attack at a financial institution, retailer, insurance provider, or other organization. "Businesses must be aware of the role that consumer fraud plays in the larger threat landscape."
Robocalls, which involve a recorded message instead of a live person, are legal. However, if the recording is a sales message and the call recipient has not given written permission to get calls from the company on the other end, the call is illegal and many times part of a con.
Here is a look at Pindrop Labs top consumer scams so far in 2016:
Can your cybersecurity strategy handle an attack? Do you have the latest tools and techniques to prevent fraud and data breaches?
Get them at our two-day conference Fraud: Don't Let It Happen To Your Credit Union Oct. 11-12 at the Sheraton Dallas. Plus you'll also learn strategies for responding in the immediate aftermath and best practices for restoring reputation, financial stability and information security. Save $150 and Register Now!
1. Google/business listing scams. Businesses learn their business listings on Google are not up to date, or at risk of losing their ranking. So-called consultants, phishing for credit card information and not affiliated with Google, promise to help the business owner in return for a fee. The scam first appeared in 2015 but gained serious traction this year.
2. Loan-related scams. Victims hear offerings to help lower interest rates, or threats that loans are past due. A steady popularity of this fraud in the past year and a half may be due to an emerging trend around payday loans. The scammers frequently use information acquired from legitimate online loan applications to trick victims.
3. Free Holidays. Callers tell receivers they have won a free vacation, hotel stay, or trip. However, fraudsters use high-pressure sales tactics to spur victims to give up credit card information to pay for tax or additional fees.
4. Political calls. With the forthcoming Presidential election, fraudsters are employing politically geared robocalls to arouse consumer interest. They ask for donations and phish for personal information.
5. Local maps verification. This asks businesses to confirm personal information in order to be included in an online maps verification program. With personal information gained via this scam, fraudsters can commit account takeover in multiple channels.
6. Lower an electricity bill. Consumers who want to lower their monthly electricity bill, often presented as a limited time, receive prompts to disclose personal information.
7. Important personal business. This scam only states that the caller has an urgent message concerning important personal business and prompts the victim to press 1 to hear a message claiming the victims owe money.
8. Credit card related scams. This scheme is falling in popularity this year due to stricter surveillance and many shutdowns by the FTC. Here, fraudsters claim that they will help pay off credit card debt faster or lower interest rates. The callers may try to confirm personal and financial information, including existing credit card numbers in order to process the rate reductions.
9. Free home security system. The second most popular 2014 scam is still warning callers of a crime increase in their neighborhood and a friend or neighbor suggested they would be interested in a free security system.
10. Elderly scams. Senior citizens are frequently the targets of consumer scams because fraudsters consider them easy victims. These frauds cover everything from Medicare and health insurance to faulty anti-aging products and even funeral and cemetery plots.
Can your cybersecurity strategy handle an attack? Do you have the latest tools and techniques to prevent fraud and data breaches?
Get them at our two-day conference Fraud: Don't Let It Happen To Your Credit Union Oct. 11-12 at the Sheraton Dallas. Plus you'll also learn strategies for responding in the immediate aftermath and best practices for restoring reputation, financial stability and information security. Save $150 and Register Now!
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
