GASA's Study Reveals $55.3 Billion Lost in Scams Worldwide
13.10.2022 12:00:00 EEST | Business Wire | Press release
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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221012005929/en/
Figure 1: Money Lost and Number of Scams Reported Worldwide (Photo: Business Wire)
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.
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.
GASA is organizing the Global Anti Scam Summit to define concrete actions to combat online fraud. The Global State of Scams Report can be downloaded here.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221012005929/en/
Contact information
Jorij Abraham
jorij.abraham@gasa.org
+31 30 799 60 22
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Enry’s Island Unveils “Enry’s Island Adventures”: Venture Capital Becomes a Videogame and Launches the “Strap” Movement on Kickstarter3.4.2026 10:47:00 EEST | Press release
Enry’s Island SpA (WBAG: EIOS), the world’s first publicly traded Venture Builder, today announced the upcoming Kickstarter launch of Enry’s Island Adventures (EIA), developed by its New York-based portfolio company, Enry’s Island Adventures LLC. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260402548535/en/ The game is designed to make venture capital accessible to new generations, transforming startup creation into an engaging and social gaming experience. After three years of R&D, EIA introduces a "bleisure" model (business + leisure): players learn to launch and manage startups through gameplay that includes real business KPIs, a customizable and evolving personal island, synchronous and asynchronous multiplayer modes, social events, and community-driven seasonal missions. The “VC revolution”: teaching and democratizing through play "I agree with Elon Musk that the best way to teach is through a video game, and this is
SES Announces Results of the Annual General Meeting2.4.2026 17:49:00 EEST | Press release
SES (the “Company”) held the Annual General Meeting (“AGM”) of Shareholders today in Betzdorf, Luxembourg. Following the recommendations made by the Board of Directors of SES, the shareholders have voted in favor of all resolutions, including the Company’s 2025 annual accounts and the proposed annual dividend of EUR 0.50 per A-share (EUR 0.20 per B-share). The total dividend amount comprises the interim dividend of EUR 0.25 per A-share (EUR 0.10 per B-share), which has already been paid to shareholders on October 16, 2025. The final dividend of EUR 0.25 per A-share (EUR 0.10 per B-share) will be paid to shareholders on April 16, 2026. “I would like to sincerely thank our shareholders for their active engagement, visionary support and continued confidence in SES’ strategy,” said Adel Al-Saleh, CEO of SES. “The outcomes of today’s AGM underscore our shared commitment to a bold multi-orbit approach, with Medium Earth Orbit as the strategic backbone of a dynamically evolving global interco
Forrester: Three Years Into GenAI, Enterprises Are Still Chasing Its True Transformative Value2.4.2026 17:00:00 EEST | Press release
According to Forrester’s (Nasdaq: FORR) latest report, Accelerate Your AI Voyage, most enterprises are struggling to turn growing AI adoption and investment into measurable business impact. One of the key factors holding businesses back is low artificial intelligence quotient (AIQ) — Forrester’s measure of AI aptitude — with many employees lacking a clear understanding of how to use AI. Other barriers include an overemphasis on productivity-focused use cases, difficulty measuring impact, and siloed adoption within individual functions. While these challenges can leave firms frozen in doubt or indecision, the wait-and-see approach to AI adoption is no longer viable. To unlock AI’s full potential, organizations need to focus on four key areas: Define the business outcomes and success metrics for what they want AI to achieve; identify specific use cases for AI deployment aligned to those business outcomes; establish a structured runway to plan, test, and strategically time the deployment
Andersen Consulting Adds Multiplica2.4.2026 16:30:00 EEST | Press release
Andersen Consulting enters into a Collaboration Agreement with Multiplica, a digital consulting firm that helps organizations design, build, and scale impactful digital experiences. Founded in Spain with a presence in Latin America and the U.S., Multiplica focuses on user research and discovery, customer experience research, digital strategy, data modeling and analysis, report automation and data visualization, conversion rate optimization, product design, and user experience design. The firm helps organizations accelerate digital transformation by building digital capabilities, teams, and assets that advance expertise across digital products, consulting, and talent development. Multiplica enables clients to forecast emerging trends in digital experience and transform their businesses through enhanced digital channels and customer engagement. “Collaborating with Andersen Consulting represents an exciting opportunity to extend our reach and impact,” said David Boronat, CEO of Multiplica
Brightfin Unifies Brand Following Proven Optics Merger, Delivering a New Standard for Technology Cost Optimization2.4.2026 16:00:00 EEST | Press release
Brightfin today announced that, following its merger with Proven Optics, the combined company will operate under a single brand: Brightfin. The unified company brings together deep expertise in Technology Expense Management (TEM) and IT Financial Management (ITFM) to help organizations better understand, manage, and reduce total technology spend. Technology spending will exceed $6 Trillion this year, and for most organizations, it remains one of the least understood. CIOs can tell you what they’re spending. Far fewer can tell you whether it’s working. “Over the past several months, we’ve brought these two businesses together around a shared purpose: help enterprise businesses better understand and optimize their technology spend,” said Joel Martins, CEO of Brightfin. “What we are seeing now is a shift. Visibility alone isn’t enough. Teams need to be able to act, tied to real financial outcomes. See Clearly. Spend Better. That is our north star, and that is what our platform is built to
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom