Almost a third of all mobile phone calls are scams, and by next year that number will likely rise to almost half, according to a recent study by mobile technology firm First Orion. That could have serious consequences for credit union branches and call centers that want to call their members.

The Little Rock, Ark.-based company, which said it analyzed over 50 billion calls made in the past 18 months, reported that in 2017 just 3.7% of mobile calls were scam calls. In 2018, that number jumped to 29.2%, First Orion said; it projected that by early 2019 the number will reach a whopping 44.6%.

"Year after year, the scam call epidemic bombards consumers at record-breaking levels, surpassing the previous year and scammers increasingly invade our privacy at new extremes," First Orion CEO and Head Data Scientist Charles D. Morgan said. "Recently, the FCC joined forces with several technology companies, including First Orion, to find a way to combat these calls, but we still see rampant increases."

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 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.