SINGAPORE: A recent report has shown that US$1.02 trillion is lost annually around the globe through scams, with one out of every four persons getting victimized. This is equivalent to 1.05 per cent of the global GDP. Interestingly, on average, victims in Singapore have lost the most money.
The report, titled The Global State of Scams 2023, was released by the Global Anti-Scam Alliance , ScamAdviser.com, and academics from the Netherlands’ University of Twente. The report’s alarming results were revealed by Prof Jorij Abraham, the managing director of GASA, at the two-day Global Anti-Scam Summit in Lisbon, Portugal, on Oct 18.
The report’s results underline “an urgent need for vigilance and preventative action,” as 25.5 per cent of people around the globe have reported losing money due to scams just in the past year. However, over two-thirds of the study’s participants believe they can identify these scams. Furthermore, hesitating to report these scams is common, with 59 per cent expressing doubts about the outcomes and almost one in four believing there is no use in reporting. The citizens of some nations say their governments do well when it comes to scams, but those from a number of other countries, such as Brazil and Thailand, expressed concerns.
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