BASINGSTOKE, England, March 20 (Bernama-BUSINESS WIRE) — A new report from Juniper Research, foremost experts assessing emerging communications technologies, has found that mobile subscribers will lose $58 billion to fraudulent robocalls globally in 2023; a rise from $53 billion in 2022. These losses will be driven by the increase in multifarious scam calls to deceive end users, such as unauthorised call forwarding or caller ID spoofing, with the end goal of financial gain.
Despite the ongoing development of robocalling mitigation frameworks, such as STIR/SHAKEN in North America, the report predicts that fraudsters’ ability to innovate fraud methods will drive these losses to reach $70 billion globally by 2027. STIR/SHAKEN includes standards to mitigate fraudulent methods popular in North America, such as caller ID spoofing, which imitates a legitimate enterprise through the use of temporary business numbers.
