Chris Botting, chief product officer and general manager at IntelePeer describes how reputation management can enable legitimate enterprises to continue phone communication despite increased calling fraud.
Since 2021, fraudsters have made the worst out of an already bad situation. The pandemic opened the flood gates for swindlers, giving them new opportunities to deceive and steal. In October 2021 alone, there were 4.1 billion robocalls placed. Last year, the Federal Trade Commission (FTC) in the US received 383,598 phone fraud reports, with 31% of those incidents initiated by the con men and women.
For just these occurrences, the FTC discovered that the total loss to consumers was $436 million (€383.96 million), with a median loss of $1,170 (€1,030.35). Although the FTC doesn’t update its information frequently, its future 2021 findings are sure to be just as telling as those from 2020.
It is this high, fraud-rich environment honest…