Online fraud and scams are recognised as a crime with devastating financial and emotional consequences for individual victims and businesses. But the much bigger economic impact has not so far been given the attention it needs.
Speaking on a panel at the Euroconsumers Forum 2025, the Global Anti?Scam Alliance and the European brands association AIM noted that while an exact figure is difficult to determine, they estimate that fraud costs consumers and businesses billions of euros each year.
Criminal networks are profiting from organised, cross-border, system wides cams and fraud, siphoning off resources so urgently needed by the European economy to invest in the green and digital transition.
Euroconsumers knows that consumer protection and competitiveness are mutually reinforcing goals. Rising to the challenge of tackling prolific levels of online scams and fraud is just one…