The loss from digital fraud is reported to reach $ 68 billion globally this year. In 2021, the loss was estimated at $ 59 billion. The top five countries most affected by online scams are the US, Japan, China, South Korea and the UK. These five countries accounted for 60 percent of global digital spending, according to Juniper Research. Globally, online scams are expected to cost $ 6,800 crore this year, or about Rs 508,720.24 crore, according to the report.
“Because the U.S. represents such an important market for spending, liars in North American campaigns are increasingly focused on the U.S.,” said researcher Scarlett Woodford. “This will lead to innovations in fraudulent tactics within the US. Woodford added that advertisers are increasingly seeking to detect and mitigate fraud. The U.S. alone will lose 35 percent of this year’s digital scams. “It simply came to our notice then. The findings also show that the total loss in the US is expected to exceed $ 23 billion by 2022.
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At the same time, it is reported that India’s digital spending is expected to grow 10 times in the next decade. That is 70-85 per cent growth in the total market. At present it is 33 per cent. According to Red Sea, a management consultancy, the digital market is projected to reach $ 2,500-3,500 billion by 2030. In 2020, it was $ 3 billion.
Story Highlights: Digital ad fraud losses to hit $68 bn globally this year