As losses from scams surge, Congress asks telecoms to do more to prevent them
Summary
A key U.S. congressional committee has asked major phone companies like AT&T, Verizon, and T-Mobile to do more to stop phone and text scams. These scams are growing quickly and are estimated to cost Americans $200 billion in 2024. The committee wants details on how these companies detect and respond to scam activities.Key Facts
- Phone and text scams are increasing and are hard for people to identify.
- Americans could lose around $200 billion to scams in 2024.
- The Joint Economic Committee, led by Rep. David Schweikert and Sen. Maggie Hassan, sent a request to three big telecom companies.
- The committee wants info on how these companies collect data and fight scams.
- Consumers have to work hard to tell real messages from scam messages.
- Other groups under review for scam prevention include Starlink (Elon Musk’s satellite service), online dating sites, AI companies, and federal agencies.
- Congress is growing concerned about how scams impact U.S. citizens.
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