FCC requires phone companies to confirm caller ID is legitimate to cut down on robocalls

Starting Wednesday, June 30, you'll be getting fewer of those annoying robocalls thanks to a new initiative by the Federal Communications Commission (FCC).

Now, most phone providers nationwide have been instructed to install Caller ID verification to confirm whether calls on their network are actually coming from the number on display. 

Some smaller phone companies do have a grace period, but all phone companies must now notify the FCC by Wednesday where they stand on protecting their customers from illegal robocalls. 

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With the new caller ID technology, con artists should no longer be able to spoof phone numbers to pose as a legitimate caller like your bank or local Sheriff's Office. 

According to the FTC and FCC, Illegal robocalls cost Americans $10 billion a year in fraud and $3 billion a year in wasted time. Americans this year have received four billion robocalls a month, which is twice as many as they did five years ago.

"June 30 is an important day in consumer protection history. The FCC action to thwart robocalls will rank up there with laws guaranteeing consumers access to their credit reports and eliminating abusive credit card practices," said Teresa Murray, Consumer Watchdog with the U.S. PIRG Education Fund. "Robocalls affect all of us. Thousands of people fall for scams each year that start with an illegal robocall and spoofed phone number."