How phone scammers tricked Americans out of tens of billions of dollars each year

Despite the rise of sophisticated crypto frauds and ransomware plots, phone scams continue to trick Americans out of tens of billions of dollars each year.

Phone scams are also on the rise.

Truecaller, which makes an app that blocks spam calls, estimates that nearly 70 million Americans have lost money to phone scams in 2022, and that those scammers made off with nearly $40 billion in total.

Phone scams include frauds that begin with calls and text messages.Watch the video above to learn more about why phone scams remain so prevalent, how people are fighting back against them and how not to become a victim.