Online Scams to Increase More in the Upcoming Years

Depending on the analysis of the 30+ countries, 140 million scams were reported. Extended to the global population, 3 percent of the global population was scammed in various ways.

FREMONT, CA: The number of online scams and money lost has increased significantly over the past year, states Scamadviser.com, on the basis of an analysis of scam data from 31 countries, covering 60 percent of the world population and 85 percent of global GDP.

Almost all countries researched report a growth in the number of money lost and scams. Only Sweden (-6 percent) and Italy (-9 percent) reported a reduction in the number of scams in 2019. Because of the coronavirus epidemic, an increase of 40 percent for 2020 can be expected as a growing number of consumers move to online shopping.

Several countries have admitted that online fraud is becoming the most reported crime. Singapore reported that scams took up 27 percent of overall crime in 2019, up from 19 percent in 2018. Similarly, fraud is the most experienced crime in the UK and the US. Russia reported that cybercrime's share as part of all crimes might increase from 14 percent in 2019 to 30 percent in 2023.

Depending on the analysis of the 30+ countries, 140 million scams were reported. Extended to the global population, 3 percent of the global population was scammed in various ways. As per previous research by Scamadviser, anybody can be scammed. Astonishingly, high-income and higher educated consumers to get scammed more as they spend money more online and take more risks. The total amount of money lost was € 36 billion in 2019.