Americans lost nearly $30 billion to phone scammers last year

Phone scammers targeting US residents of all ages are on the rise, and got away with nearly $30 billion in stolen funds last year as part of illicit schemes.

A report from Truecaller found that around a third of Americans reported falling victim to a phone scam, with nearly one in five being successfully targeted more than once.

Nearly one in four have fallen victim in the past 12 months, with experts suggesting that the problem may have accelerated with the onslaught of Covid-19.