Reason why you're receiving so many scam calls and how you can spot them

A security expert has explained why you may be receiving more scam calls than usual and how you can spot a fraudulent caller to ensure you don't lose any of your hard earned money.

Such calls have reportedly been on the up as of late, with scammers seemingly targeting the older generation in particular as they believe they are more vulnerable.

However, you can be scammed at any age, with Clayton LiaBraaten, a Senior Executive Industry Expert at Truecaller, detailing why you are receiving so many spam calls.

It's believed changes in technology and the current economic climate are playing a key role.

LiaBraaten told the New York Post: "Scammers are astute social engineers who know that in an uncertain economy, many people are hunting for financial relief to alleviate the burdens, and this is where desperation kicks in. Scammers understand their targets — they have all the psychological information they need."

Scammers typically target the more vulnerable (Getty Stock Photo)

The FTC notes that while scam callers might claim to know your personal information, they are actually doing such in an attempt to obtain confidential information about yourself.

So, what are some of the red flags to look out for?

Well, the FTC explains: "When people don’t pick up, the callers leave messages saying the imaginary 'loan application is on hold because the business needs more information, so please call back'.

"The calls seem urgent — and they’re persistent. People report getting calls in bursts of anywhere from five to even 20 a day, all from different numbers, all with the same story. But there never was a loan application. It’s a tactic that some dishonest companies are using to offer loans."

Scam calls are apparently on the rise (Getty Stock Photo)

It's important you don't call the number back as you could be connected with the scammer once more and even be met with unexpected fees.

LiaBraaten went on to tell the New York Post of some of his tips to beating the scammers and apparently it's all about being 'proactive' rather than 'not reactive'.

"It is important to recognize that scammers don’t want you to ask questions or triple-check a link. Every second you pause to think strips away their power. Scammers thrive on confusion and the fear of missing out. They are looking for a live number and a willing ear," the expert continued.

"Simply engaging or pressing a key to opt out often just confirms to them that your line is active, leading to even more calls. The most powerful move you can make is to slow down, be skeptical and just hang up."