ANTI-SCAMS
Scams – when consumers are manipulated into authorising financial transactions or revealing sensitive financial information – increasingly spread on web-based platforms and cause significant economic, psychological and emotional harm. In 2023, the monetary value of scams was estimated at $1 trillion, equivalent to 1% of global GDP. In the US alone, consumer losses to scams in 2023 increased by 14% compared to the previous year, reaching nearly $1 billion monthly.
The scams threat environment that consumers are exposed to is becoming more complex. Criminals use a multitude of platforms and techniques, while the advent of generative Artificial Intelligence (AI) makes deception easier and more scalable.
This complexity means that consumer education alone is not enough to protect people from scams. To add to the problem, scams operate across borders, which makes it difficult for authorities to coordinate legislation, conduct joint investigations and take enforcement actions. An international, cross-sector, multistakeholder approach to protecting consumers is needed.
Our Vision
Consumers must have confidence in the digital economy. A secure and resilient digital marketplace where people are protected from scams is part of this.
We need collaborative and consumer-centric approaches to scam prevention, detection and victim support:
- Prevention must be improved through the implementation of advanced security protocols and collaborative intelligence sharing to stop scammers from accessing platforms and services.
- Detection and disruption mechanisms must be driven by cutting-edge technologies and real-time monitoring. This approach swiftly identifies and addresses fraudulent activities, maintaining a high standard of safety.
- Additionally, a robust support system for victims must feature prompt redressal and emotional support to ensure that every consumer is protected and supported. This reinforces overall trust and security in the digital landscape.
Consumer Coalition to Stop Scams
We’re fighting the global crisis of scams with a Coalition of 30+ organisations uniting consumer groups, businesses and experts. Established in 2023, the Consumer Coalition to Stop Scams is dedicated to driving stronger policies, fostering collaboration, and launching impactful campaigns to better protect consumers from scams.
The Coalition engages with key regulatory and enforcement authorities. It is open to our Members, subject matter experts, and global businesses dedicated to disrupting the channels used by criminals to target consumers. This includes sectors such as telecommunications, e-commerce, card services, payment providers, and financial institutions.
Consumers International Members who are on the Coalition include:
What to Expect from the Coalition
As the only truly global group addressing the scams challenge, the Coalition ensures the consumer perspective is at the forefront and that solutions can be implemented worldwide. The Coalition meets quarterly to align on goals and share updates. In addition, individual working groups will convene monthly to progress our Scams Policy Resilience Initiatives — a set of actions that all stakeholders can take to reduce the impact of scams on consumers.
The working groups will spearhead efforts to implement and scale these initiatives, starting with:
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Enhanced Verification Procedures
The Coalition is working to define stringent and globally consistent verification processes to validate the authenticity of user accounts, apps, advertising accounts, and product listings. Minimising regional variations will build consumer trust in the products, services and platforms where scams manifest. -
Advanced Monitoring Systems
The Coalition will promote technologies, investments and strategies that help monitor and flag suspicious activities, patterns, and scam-related content. These systems are critical to proactively identifying threats and protecting consumers. -
Collaboration for Prevention
Recognising that scams are a shared challenge, the Coalition will advocate for and participate in multistakeholder information sharing initiatives, fostering partnerships to collectively prevent and mitigate scam risks.
Our Work in Anti-Scams
In 2019, we released our report Social Media Scams: Understanding the Consumer Experience to Create a Safer Digital World, highlighting the growing threat of scams on social platforms. This research, based on two years of monitoring public conversations in nine countries and interviews with key stakeholders, calls for greater cooperation to protect consumers.
We also launched the Global Statement to Stop Online Scams at our Global Congress in 2023, alongside our Members. Our statement urges governments to enforce stronger protections against the growing risk of scams on technology platforms.
Join us
We invite you to join us in making a meaningful impact on the fight against scams, ensuring a safer environment for consumers worldwide. If you are a business looking to engage in this work and explore the benefits of our Change Network please reach out to partnerships@consint.org.