How Each State Is Affected By E-Commerce Scams

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

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. 

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

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%. 

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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