How Each State Is Affected By E-Commerce Scams

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While economies the world over suffered, slowed, and effectively stopped due to the pandemic, the fraud economy flourished. 

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Experts estimated that the annual global cost of fraud in 2020 would total just over $5 trillion USD—more than the GDP of most countries. 

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Those were pre-pandemic estimates, derived under pre-pandemic conditions and an old normal. 

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Experts believe the actual total in our new covid-concurrent reality is much higher. In some areas around the world, rates of fraud rose by nearly 20%. 

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The fraud economy, like any other, is vast, complex, and full of skilled operators who drive it. Cybercrime is a major contributor to the fraud economy, with e-commerce fraud as an offshoot. 

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