In The News
An Appetizer for the 2nd Global Online Scam Summit
Last week, Scamadviser, one of the top contributors to GCA’s Domain Trust initiative, released the Global State of Scams Report – 2021. This annual report, the third conducted to date, uses data from 42 different countries to show how the scam industry has boomed worldwide with the COVID-19 pandemic.
Eye-opening findings
Some of the data included in the report are appalling— the amount lost to online scams, for instance, grew from $ 42 to $ 48 billion between 2019 and 2020. And those sums, incredible as they may seem, are probably just a small fraction of the actual size of online fraud globally.
Most of this online fraud simply goes unreported and, even when reported, only three in every 1,000 cases are actually prosecuted according to the World Economic Forum, quoting, in turn, the US-based think-tank Third Way.
Likewise, while their definitions and reporting methods differ strongly, nearly all 42 countries featured have reported large increases in the number of registered scams— from 139 million in 2019 to 266 million in 2020. Only a few countries reported minor decreases, including Belgium, Japan, and Sweden.
How to turn the tide?
For most of the countries, the first natural step is raising awareness among their populations. However, in the last few years we are seeing how simple awareness is not sufficient anymore. Where the response strategies are more advanced, authorities are starting to test new approaches, from more aggressive awareness campaigns to advanced response systems for their citizens or even legal and regulatory reforms.
More at the GOSS event
The findings and the strategies in this report will be a central part of the 2nd Global Online Scam Summit (#GOSS), starting in just two weeks (November 3-4).
This online event, co-hosted by Scamadviser, APWG.eu, and the Global Cyber Alliance, will bring experts from all over the world to discuss the global issue of online scams from a myriad of perspectives.
You can explore the event’s agenda and register (for free if you are a GCA partner) using the following link:
To access the Global State of Scams Report – 2021, visit the link below:
