Callsign, a digital identity pioneer, revealed that the rise of scams is harming organisations’ reputations across the world. The global study of consumers revealed that just receiving a scam message purporting to be from any brand is enough for 49.8% of them to lose trust in the organisation, regardless of any real association with the message.
Industries most targeted by fraudsters are financial services and e-commerce with consumers stating that of all scam messages they receive, 63% claim to represent their bank or a retailer (36%).
The scam problem is rampant across all communications channels. Globally, on average, individuals who receive scam messages via all channels receive 1,133 a year, with more than a quarter (27%) saying they receive more messages from fraudsters than friends and family.
With 41% of consumers admitting they don’t report fraudulent messages, the scale of scam messaging and victims is likely to be underestimated.
“Fraud hides in volume and the rapid migration of the global population online in the last 18 months has led to the industrialisation of scams. The consequence is fraudsters are using the same channels we’re using to authenticate genuine consumers, and this is harming organisations’ reputations with the decrease of trust in their brands,” explained Stuart Dobbie, SVP, Innovation, Callsign.