As spam filters and machine learning get better by the day at hampering email fraud, cybercriminals are doing new, flourishing business in the less-protected ‘phone’ department. Numerous phone and SMS scams are actively being carried out across Australia, the United States and other countries, with governments doing little to stop them, according to one security researcher.
David Glance, director of the Centre for Software Practices at the University of Western Australia, warns that, while credit card fraud accounts for most money lost, a significant sum is still being lost each year on “regular scams.”
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