Fraud scams and financial institution fraud schemes resulted in $485.6 billion in losses globally final yr, in accordance with Nasdaq’s 2024 Global Financial Crime Report launched this week. Scams induced $151.1 billion in losses within the Americas, with funds fraud accounting for $102.6 billion of that determine. Nevertheless, test fraud resulted in $21 billion in losses within the Americas, representing 80% of test fraud losses worldwide in 2023 and pushed by fraud within the U.S., in accordance with the report’s authors.
Cyber-enabled scams, together with enterprise e mail compromise, led to $10 billion in losses globally, in accordance with the report. Romance scams and different confidence schemes resulted in practically $4 billion in losses. Fraud towards aged victims induced $80 billion in losses.
Nasdaq additionally estimated that $3.1 trillion in illicit funds flowed via the worldwide monetary system final yr. Drug trafficking accounted for $782.9 billion of that exercise, human trafficking accounted for $346.7 billion and terrorist financing $5.1 billion.
