New Delhi, March 20 : Mobile users are expected to lose a massive $58 billion to fraudulent scam calls globally this year, a report showed on Monday. The loss due to fraudulent robocalls is a rise from $53 billion mobile subscribers faced last year, according to Juniper Research. Android 13 QPR3 Beta 1 Release Date: Google Announces New Software Update for Beta Program Members, To Be Out On March 13.

These losses will be driven by the increase in multifarious scam calls to deceive end users, such as unauthorised call forwarding or caller ID spoofing, with the end goal of financial gain. Apple Joins AI Chatbot Bandwagon: Tech Giant Reportedly Working on AI-Powered Next-Gen Siri.

Despite the ongoing development of robocalling mitigation tools, the report predicted that fraudsters' ability to innovate fraud methods will drive these losses to reach $70 billion globally by 2027.

North America continues to be the most impacted region by fraudulent robocalls, as its affluent nature provides larger monetary opportunities for fraudsters and will account for over half of the losses attributable to robocalling in 2023. However, the report estimates that STIR/SHAKEN framework has reduced the year-on-year growth of fraudulent losses to robocalling.

By 2025, fraudulent losses arising from robocalling are anticipated to decline for the first time in North America, owing to the widespread adoption of this framework, said the report.

(The above story first appeared on LatestLY on Mar 20, 2023 01:41 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).