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Bot Fraud Estimated At $6.5B Globally In 2017, ANA Says

Bot Fraud Estimated At $6.5B Globally In 2017, ANA Says | Public Relations & Social Marketing Insight | Scoop.it
From www.mediapost.com - May 28, 2017 2:32 PM

Advertising spending should increase by 10% or more this year, but a study released Wednesday by the Association of National Advertisers (ANA) and White Ops estimates the economic losses due to bot fraud at $6.5 billion globally in 2017 -- down 10% from the $7.2 billion reported in 2016.

The Bot Baseline Report analyzes the digital advertising activity of 49 ANA members between October 2016 and January 2017.

"Extrapolating the results of the participants to the overall global market would result in 2017 fraud losses of just $3.3 billion — about half of the $6.5 billion general market projection," per the study.

ANA CEO Bob Liodice called the results of the study "a powerful indicator that the war on digital ad fraud is winnable for those who establish proper controls and protocols."...

Jeff Domansky's insight:

Bot fraud was worth a staggering $7.2 billion in 2016, though it is expected to drop to 6.5 billion in 2017.

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Identity Fraud Hits Record High with 15.4 Million US Victims in 2016, Up 16% | Javelin Strategy & Research

Identity Fraud Hits Record High with 15.4 Million US Victims in 2016, Up 16% | Javelin Strategy & Research | Public Relations & Social Marketing Insight | Scoop.it
From www.javelinstrategy.com - February 1, 2017 11:21 PM

The 2017 Identity Fraud Study released today by Javelin Strategy & Research (@JavelinStrategy), revealed that the number of identity fraud victims increased by sixteen percent (rising to 15.4 million U.S. consumers) in the last year, a record high since Javelin Strategy & Research began tracking identity fraud in 2003. The study found that despite the efforts of the industry, fraudsters successfully adapted to net two million more victims this year with the amount fraudsters took rising by nearly one billion dollars to $16 billion.
There was a resurgence in existing card fraud in 2016, which saw an increase of 40 percent in card-not-present (CNP) fraud.The study also found that the increase in EMV cards and terminals was a catalyst for driving fraudsters to shift to fraudulently opening new accounts. On a positive note, while fraudsters are becoming better at evading detection, consumers with an online presence are getting better at detecting fraud quicker, leading to less stolen overall per attempt....

Jeff Domansky's insight:

Astonishing level of identity fraud cost US consumers $16 billion in 2016 and inpacted 6.15% of Americans directly.

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