GASA's Study Reveals $55.3 Billion Lost in Scams Worldwide – MarTech Series

According to the Global State of Scams 2022 Report by the Global Anti Scam Alliance (GASA) and ScamAdviser amongst 48 countries, the scams reported increased by 10.2%, from 266 in 2020 to 293 million reports in 2021. The money lost in scams grew by 15,7%, from $47.8 billion in 2020 to $55.3 billion in 2021.
No Longer a Western Disease
GASA states that scams are no longer a “Western” disease. 53% of Filipinos stated fraudsters targeted them in 3 months. 11% of the respondents said they ended up as victims. Other developing countries like Brazil, Ghana, Nigeria, Kenya, and Saudi Arabia are reporting huge increases in online scams, primarily via mobile phones.
Marketing Technology News: Newegg Launches Influencer Program – Newegg Creator
Investment Scams Continue to Rise
Countries like Australia and Singapore report that investment/cryptocurrency scams continue to grow. The Turkish government suspended a cryptocurrency exchange, freezing $2 billion in assets. Canada reports $164 million loss in investment scams, and US citizens lost $575 million.
Scams remain one of the most underreported types of crime
In Australia, an estimated 13% of all scams are reported. Canada estimated that only 5% of the cases reach law enforcement, Israel estimated this number to be 9%, and the Dutch and French estimates range between 12% and 17%.
Social Media Steppingstone for Scammers
Pakistani authorities state 23% of the reported online crimes started on Facebook. Indonesia states that 51% of the scams begin on social media. More than one in four people reporting money loss in the United States said it started on social media.
Get Them While They are Young
Young people are targeted more and lose money more frequently than elderly. In Finland, the worst-hit age group was individuals between 18 and 30 (23.3%). The Dutch University of Twente confirms that young people are more likely to be scammed.
The Cure for Scams?
According to World Economic Forum study, only 0.05% of all cybercrimes are prosecuted. As scammers professionalize, raising awareness is not enough. More preventive action is needed, and a faster takedown of scams is essential.
Marketing Technology News: MarTech Interview with Jim Yu, CEO at BrightEdge
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Prev Post
IFS Helps Customers Drive Towards Esg Goals With IFS Cloud October 2022 Release
Next Post
Crisp and The Trade Desk to Provide Marketers with Store Availability Data to Optimize Media Campaigns
Verve Group Selects Adelaide as Attention Measurement Partner for Contextual…
Bombora’s Intent Data Helps Inbox Insight Get Content to a Customer’s Hungriest…
Click Fraud Detection Firm Polygraph Explains How Removing Ad Keywords Can Eliminate…
Bloomreach Recognized as a 2022 Gartner Peer Insights Customers’ Choice for…
Popular Posts
Informatica Extends Microsoft Partnership to Help…
ABBYY Reduces Fraud Losses and Expedites Customer Onboarding…
Creatio Named a Leader in the 2022 Gartner Magic Quadrant…
Deloitte Digital and Salesforce Collaborate to Help Create a…
Intercom Announces Major Updates to its Most Used Product:…
TUGA Launches Interactive Digital Marketing Tools
Natori Partners with Firework to Bring Video Commerce…
Data Security Startup Sentra Launches in U.S. Market
Vonage Launches AI Studio

Copyright © 2022 MarTech Series. All Rights Reserved. Privacy Policy
Welcome, Login to your account.
Recover your password.
A password will be e-mailed to you.


Leave a Comment