---
title: Here’s How Much Phone Scams Cost Americans Last Year…
metaTitle: "Annual Scam Cost Revealed"
slug: annual-scam-cost-revealed
date: "2017-04-21T13:59:27-05:00"
image:
  src: "https://cdn.securelogix.dev/slx/images/undefined.webp"
sourcePublisher:
  name: Market Watch
  url: on.mktw.net
sourceArticle:
  url: "http://on.mktw.net/2pCll7y"
legacySlug: heres-how-much-phone-scams-cost-americans-last-year
tags: [Consumer Fraud, Phone Scam, Voice Spam]
status: published
---

April 21, 2017

Spam phone calls aren’t just annoying — they’re costing American consumers billions of dollars.

An estimated one in every 10 American adults lost money in a phone scam in the past 12 months, according to a report released Wednesday. On average, each scam victim lost $430, totaling about $9.5 billion overall. That was an increase of 56% from the 2015 survey, when victims on average lost $274 each. “No one is immune, and now more than ever there is a need to be vigilant,” said Tom Hsieh, the vice president of growth and partnerships at TrueCaller, a Stockholm-based company that offers services including caller ID and spam detection...