Bogdan Botezatu

Hi all.

Thanks for having me on the show.

Literally nobody will believe me that I'm shooting a video in such a great company.

Probably people at home will say that this is a deep fake and it's going to be very difficult for me to contradict them.

It's very hard to put numbers next to the global landscape of scams because most of these scams go on of deported.

Or if they go deported, they don't get aggregated globally.

The thing is that there are some estimations.

GASA, which is the Global Anti-Scam Alliance, one of the most prominent organizations that deal with anti-scamming, they place scams at inflicting about $1 trillion of losses for 2024.

Trillion?

Yeah, $1 trillion.

Probably it's in between.

The global cybercrime market is around $9 trillion, which means that $1 trillion for just scamming people would be reasonable.

It is.

But the thing is that not all scams get reported.

There's people who are ashamed of admitting they have lost huge amounts of money.

Of course.

If you look around and talk to these people who got scammed, you'll realize that they haven't lost like $100 or $500.

They have lost hundreds of thousands of dollars because these kinds of scams run for a very long time.

People gain their victim's trust and then they proceed to inflict the maximum amount of damage they can.

The other thing is that while probably the FBI has stats for what's going on in the United States, there are so many other countries that are affected by scams which do not report centrally what they have registered in each country or each region.