Financial Losses Caused by Robocalls Reached $30 Billion in 2021

Robocall scams have been a real nuisance because of the fact that this is the sort of thing that could potentially end up being difficult to predict and prevent. Most people would agree that these types of scams have started to become increasingly common over the course of the past few years and 2021 was no different with robocalls in general breaking a lot of records this year.

With all of that having been said and now out of the way, it is important to note that a year end report released by T-Mobile can put some things into perspective for us. One thing that this report revealed was that there has been a 116% increase in robocalls this past year which means that the total number has more than doubled. There were about 425 million robocalls occurring every single week which is a massive number by any metric.

The thing about robocalls is that they often result in financial losses and hardships for people, and the total financial loss that consumers had to go through was just short of $30 billion this year. If you were to look at the total number of robocalls in January, you’d notice that they were at around 1.1 billion, and in December this number went up to 2.5 billion which confirms the doubling of such calls in the calendar year.

However, the report also released some important details regarding how many scam calls were blocked this year. According to T-Mobile, they managed to block an average of 1.8 billion robocalls each and every month, so only a fraction of the attempts actually ended up being as successful as the malicious actors behind them would have wanted them to be. The thing is, what few robocalls went through were still able to cause a lot of financial damage as can be seen in the tens of billions that customers lost because of them.

Suffice it to say that robocalls are only going to keep getting worse with all things having been considered and taken into account. It is up to telecom companies to find a way to reduce their damage. What’s more is that consumers need to be educated about what they can do to protect themselves from such scams because they often lack the information required to make the right kinds of decisions in this regard all in all.

Read next: A Study Reveals That Customers Of Banks, Mobile Networks, And Retail Stores Are Increasingly Holding Them Accountable For Scams Being Conducted
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