Scammers are gaining, “$211M lost to scams in 2021”

In comparison to last year, there has been an 89 percent increase in law enforcement worldwide.

The frequency of online scams surged dramatically during the Covid-19 outbreak.

Dating scams, insurance fraud, and shopping scams have been the top three most common scam categories since the beginning of 2021.

Package delivery phishing, bitcoin sextortion scams, and cloud service phishing were the top three scam email categories.

There has been an increase in the amount of scams distributed through social media, particularly fake accounts and scam advertisements, according to threat research specialists.

“In August 2021, the number of ransomware assaults shot through the roof.The new Flubot malware scams masquerading as fake voicemail and parcel delivery scams exploded, which have resulted in more than 13,000 reports in just eight weeks.”

How Do Countries React to Scams?

Many governments have turned to more vigorous annual awareness programmes to combat scams.However, the results are inconclusive.

Despite earlier warnings, people all around the world appear to fall for scams as the plot elements change (e.g., COVID funding).

“As a result of Covid-19, Australia saw a 59 percent spike in fraud reports and a 23 percent increase in money lost. As the most difficult obstacle in combating scammers, they are increasingly exchanging data worldwide, such as with the Federal Trade Commission, to uncover scams faster and assist law enforcement intervention.”

“Pakistan is indeed training CyberScouts, who can be police officers, students, or even children.The goal is to make local populations more aware of cybercrime.”

“The Belgian cybersecurity authority, the Centre for Cybersecurity Belgium (CCB).The CCB is in charge of overseeing, coordinating, and monitoring the implementation of Belgium’s cyber security plan.The CCB supports a number of projects aimed at preventing and combating internet scams.”

“Japan established Operation “Pretend to Be Fooled,” which asks those who have been approached by a scammer to report it to the authorities.The police and the potential victim then work together to apprehend the perpetrator.A reward of 10,000 Yen (€77.50 / $88) is given to the targeted victim.”

Scams are currently the most commonly reported type of crime in several countries.In Sweden, fraud accounted for 5% of all reported crimes in 2000.It now accounts for 17% of all recorded offences.

Scams are becoming the most widespread type of crime in the United Kingdom and the United States.Ultimately,Singapore claims that online scams account for 44% of all crimes.

While many developing countries are increasingly concentrating on raising cybercrime awareness among their populace, others have discovered that education is insufficient.

Countries such as Spain and the Netherlands have made it easier to report online via WhatsApp and Telegram, resulting in more and better data.

The Federal Trade Commission is compiling data on scams from 3,000 federal, state, and local law enforcement officers.

“Most countries think that the next step is for internet companies to take further responsibility, leveraging their own data to effectively identify and prevent scams.”