71% of consumers are confident they can identify scams, but 67% of those approached by a scammer fell for the fraud.
Consumers are confident they can recognize scams
AMSTERDAM, Oct. 01, 2021 (GLOBE NEWSWIRE) — According to a new study by ScamAdviser, of 4,300+ consumers, scammers reach nearly everybody. 62% of the survey participants are certain that they have been exposed to a scam in the last year. The main reason consumers get scammed? Hubris! There is a huge gap between how good consumers think they are at identifying scams and the reality. 67% of the respondents who had been targeted by a scam said they had fallen for it. However, 71% of the respondents are (very) confident in identifying a scam.
42% approached more often by scammers
The number of scams is increasing. 42% stated being approached more often. Phishing (35%) is still the most reported ‘popular’ scam. But fraudulent (cryptocurrency) investment schemes (25%), unexpected wealth scams (24%) and, non-delivery of ordered products are gaining more and more ground.
Greed is not the most common cause
Consumers get scammed for different reasons. 45% of the victims of scams do not identify the scam until it is too late. Another 24% state a lack of knowledge to identify the scam as the primary reason for having fallen for it. Greed and “taking a gamble” are named by 31% of the users as primary reasons for becoming a victim.
There are several reasons why consumers keep falling for scams. 41% of the consumers check reviews on other websites, which are increasingly fake. 19% check a website’s SSL certificate which is not a trust indicator at all.
Investment scams are on the rise
Most consumers lost money (56%) or data (16%). The amount lost differs from $1.59 to nearly $700,000. In line with the rise of cryptocurrency scams, more victims report their losses in bitcoins and not their national currency.
Scammers are safe as consumers fail to report
Only 44% of the users reported scams, primarily to review websites (21%), followed by the hosting company (14%). The national police is the least popular reporting channel (6%).
Of the 46% who claimed not to report a scam, 23% do not know to whom to report the scam whilst 11% believe that reporting a scam would not make a difference.
Participants state that law enforcement agencies and governments are not doing enough to fight scams. 65% of respondents perceived their police and governments efforts as (very) poor.
The full report is presented at the Global Online Scam Summit and can be downloaded from ScamAdviser.com.
Scamadviser is an initiative of the Ecommerce Foundation. More than 100,000 consumers check ScamAdviser every day. ScamAdviser’s data is used by anti-virus software, browsers and internet filters to keep more than 1 billion users safe. Contact: jorij.abraham@
Report – Why do consumers get scammed.pdf
Long Article – Why do consumers get scammed.docx
Image 1: Consumers are confident they can recognize scams
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