Phone Scam Prevention Act of 2014 - Amends the Communications Act of 1934 to require voice communications service providers to offer subscribers the option to designate a list of approved telephone numbers for which calls originating from those numbers are permitted to connect directly with the subscriber's telephone and other customer premises equipment.
Requires providers to ensure that any call for termination that is not from a number on the subscriber's list is processed according to the subscriber's preferences, including by limiting or disabling the ability of an incoming call to connect with the subscriber's equipment.
Exempts government and public interest calls from being subject to a subscriber's preferences.
Requires the Federal Communications Commission (FCC) to develop authentication standards for providers to validate caller information so that subscribers may obtain secure assurances of a call's origin, including the calling party's number and identification.
Extends the prohibition on the provision of inaccurate caller identification information to persons outside the United States if the recipient is within the United States.
Expands the definition "caller identification information" to include text messages.
Revises caller identification requirements to make standards applicable to voice communications using resources from the North American Numbering Plan (currently, the requirements apply to telecommunications or IP-enabled voice services).