iPhone and Android owners must change settings to avoid vicious ‘vishing’ attacks that empty your bank with a phone call

ALL smartphone users have been warned to be aware of a common scam that has cost consumers and businesses billions of dollars.

Anyone with an iPhone or Android phone can be a target for voice phishing or “vishing” scams – a trick thieves use to display a fake phone number on caller IDs when calling victims.

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Vishing attackers often contact innocent people such as representatives of a bank or government agency such as the IRS.

Victims see the name and number of an institution they recognize and are more likely to answer the call and believe the person on the other end of the line, according to cybersecurity experts at McAfee.

Then, criminals often manipulate victims into sending them money, identity information, or login details that can be used to access their accounts.

When scammers call and impersonate the IRS, for example, they may tell the victim they owe back taxes or that they need to immediately submit sensitive financial information to avoid being sued for tax fraud.

After the vishing victim sends the thieves everything they asked for, the criminals empty their bank accounts as quickly as possible.

What’s worse, cyber fraud is notoriously difficult to prosecute.

Scammers often use fake identities and a long line of fake accounts to transfer the money to an untouchable and untraceable location almost immediately after receiving it.

Victims of vishing scams reported average losses of $1,400 in 2021, according to the Federal Trade Commission (FTC).

Global losses to consumers and businesses due to vishing totaled more than $1.2 billion in the same year.

HOW TO AVOID VIEWING

Fortunately, there are several cyber hygiene tips that phone users can employ to avoid falling victim to vishing and other types of spoofing, or spoofing caller ID.

The first and easiest way to protect yourself from spoofing is to install an app or program designed to automatically filter spam and other fake calls from your phone.

Both AT&T and Verizon offer customers access to fraud warnings and spam screening built into their phones.

You can also download a third-party program that works on all phones, such as the widely used Robokiller app.

If spam or scams become a real problem, you can register your name and number with the Do Not Call Registry.

While some fraudulent calls may still reach your device, the change should eliminate many bad faith contact attempts.

Consumers who have already received a fraudulent call can report attempted fraud directly to the FTC.

Phone scam statistics

Americans are bombarded with three billion spam calls per month. What are the numbers regarding the number of victims and the amount of money lost to fraudsters

• In 2022, Americans lost an estimated $39.5 billion to phone fraud, with 68.4 million US citizens affected, according to TechReport.
• The average phone scam victim lost $567.41 each in 2021, a huge increase from 2021’s figure of $182 per victim, according to Hiya.
• Most scams happen over the phone, with fraudsters twice as likely to call compared to text in 2021, as the Federal Trade Commission (FTC) reports.
• In 2021, the US saw a 56% increase in spam phone calls, with 60% of those robocalls.
• US residents receive an average of 18 spam phone calls per month, although some experts believe the real number could be as high as 31 per month.
• Many phone calls from reputable companies can be mistakenly marked as spam, but 38% of companies have no idea whether they are being marked as “potential fraud” or not, according to Hiya.
• Never provide personal or financial information if you suspect a phone call is a scam. For example, your bank will never ask for these full details over the phone.
• To reduce spam calls and scams, sign up for the Do Not Call Registry. Telemarketers, by law, will need to check this list before calling you.
• Downloading third-party apps like Hiya, Nomorobo or Truecaller can help filter annoying spam calls.
• Try not to share your phone number unless necessary, especially online or with sketchy sources.

TIPS FOR IPHONE USERS

Consumers can use some simple tricks to avoid fake calls exclusive to Apple fans and Android users.

If you use iOS, you can set your phone to automatically ignore suspicious calls by selecting the Mute unknown callers resource.

Enabling the setting is easy: go to Settings > Phone, scroll down, and tap Silence Unknown Callers.

Your saved phone numbers and recent call logs are automatically exempt from the iPhone’s spoofing filter.

ADVICE FOR ANDROID FANS

Android users are in luck too.

If you have a Google-based device, you can use your phone Caller ID and spam protection context.

It uses your address book and caller ID along with a list of known spammers to filter calls to your device.

You can enable or disable caller ID and spam protection on your Android phone by going to Settings > Spam & Call Screen and selecting the option.