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World-wide, credit card fraud and other scams cost the public billions of dollars. While credit card fraud is the clear leader in sheer volume of money lost, "regular scams" still result in a significant amount of money being lost each year. Globally, credit card fraud resulted in losses of US$21.84 billion in 2015. The so-called "Nigerian scam", usually perpetrated via email, totalled US$12.7 billion in 2013. Overall losses are likely to be much larger however, as many scams go unreported.
While scams that come in over email are increasingly being picked up by spam filters, around 45% of scams in Australia (and likely other countries) are by phone and text message.
Email spam filters are using machine learning techniques to get better at identifying the wide range of scams that can arrive in inboxes. This is by far the most effective way of dealing with scams, as the average member of the public has been shown to be remarkably susceptible. However, very little has been done about phone and text scams. This is surprising given scammers have quite brazenly stuck to using the same number or area codes over significant periods of time.
[...] Google and Apple should, however, be able to do more independently of these agencies. With the advent of machine learning techniques being used to analyse emails, it will be also possible to apply the same technology to phone calls.
[...] The list of other scam types is fairly consistent, and so is identifiable by software interpreting the conversation in real time. Governments should apply pressure on companies like Apple and Google to tackle this problem. Until then however, it is worth using one of the third party apps (like: TrueCaller, Hiya ) to ward off scams.
Do you have suggestions on how these scams could be stopped ?
(Score: 0, Disagree) by Anonymous Coward on Monday June 26 2017, @08:14PM (6 children)
How about (-1: Discredited By History)
We're living right now in a Randian paradise where tech moguls pay the absolute minimum for labor and don't pay any tax. As a direct result of not taxing the rich, we have the Greatest Recession since the Great Depression. The epitome of greed is a society where millennial billionaire techbros go on record as saying on social media, why won't the poor, the old, and the jobless just fucking die already.
(Score: 2, Informative) by Anonymous Coward on Monday June 26 2017, @08:53PM (2 children)
Recent history has proven that we are NOT in a "Randian" paradise; sorry, pal, but bailouts of centrally-managed fiat banking, economic "stimulus", etc., is the exact opposite of a world based on rigorous, free-market contract negotiation, dispute resolution, and enforcement.
(Score: 0) by Anonymous Coward on Monday June 26 2017, @09:14PM (1 child)
I'm living in the real world where Apple has a cash reserve of $250 billion and pays tax at a effective rate of 0.1%.
(Score: 0) by Anonymous Coward on Tuesday June 27 2017, @12:47AM
That's why I give Apple my money. They are much better at managing it than I am.
(Score: 2) by The Mighty Buzzard on Tuesday June 27 2017, @10:23AM (2 children)
Learn your shit before spouting off. Rand was vehemently against buying and selling legislative and bureaucratic pull in order to tilt the playing field in your favor like we currently have.
My rights don't end where your fear begins.
(Score: 0) by Anonymous Coward on Tuesday June 27 2017, @03:16PM
Rand was also a welfare mooch
(Score: -1, Troll) by Anonymous Coward on Tuesday June 27 2017, @04:08PM
Ooooooh you're a randian? Not that I should be surprised in the slightest, it totally fits. But something about hearing you quote scripture just really slams the point home.
"Learn your shit" is laughable coming from you.