A study conducted by Pindrop Security, which provides anti-fraud authentication technology solutions to help companies prevent phone-based fraud, reveals that home security telemarketing calls were the second most common telephone scam in 2014.
During these calls, the telephone operator offers a free home security system after mentioning a rash of burglaries in the neighborhood to scare homeowners into action. However, the security system is not free; it actually comes with long-term monitoring costs or fees, reports.
Home security systems telephone scams came second to credit card reduction scams, where callers promise interest rate reductions, after an individual pays an upfront fee.
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A cybersecurity scam, where callers pretend to represent Microsoft tech support, was No. 6 on Pindrop’s list. In this scam, callers tell victims that their computer is infected with a virus. The caller then requests remote access to the computer to fix the problem and then may install malware to steal personal information.
Pindrop analyzed more than 26, 000 comments from online forums and complaint sites during the first nine months of 2014 to compile the list.
Fraud.org revealed that the telephone is the most common means of communication for con artists. Of the more than 10, 000 consumer complaints filed to the site in 2014, more than 40 percent of the scams originated with a phone call, while about 30 percent originated electronically via E-mail.