How Policymakers Are Responding to Online Scams: A Global Assessment

In recent years, the landscape of scams has shifted profoundly. Advances in payment technology, growing global connectivity and evolving criminal tactics have enabled scams to scale quickly and cross borders with ease.

Consumers bear the brunt, suffering financial and emotional damage, while the effects ripple across national and global economies. As more money gets diverted to criminal networks, trust in digital and financial systems erodes.

So what does a strong global response look like? In our view, it requires consistency and coordination.

Consistency, because a global response can only succeed if every nation plays its part. Building strong national foundations that meet an equal minimum standard is the essential first step.

Coordination, because it is vital that national strategies connect with harmonised global actions to protect people wherever they live.

Online scams are a cross-ecosystem crime, with consumers often exposed to risk long before a payment is made to a criminal behind a scam. Encouragingly, different parts of the digital ecosystem are increasingly taking steps to prevent fraud and scams - often in a more coordinated way and with greater involvement from governments and other actors in the journey.