Messaging scams drain more than $200 billion from the global economy

Messaging scams are no longer isolated cybercrimes affecting a limited number of internet users. According to a new global study by Kaspersky, these increasingly sophisticated fraud schemes have evolved into a major economic threat, quietly siphoning billions of dollars from households worldwide and placing growing pressure on national economies.

The findings come at a time of heightened geopolitical tensions, persistent inflation, economic uncertainty, and job insecurity. Criminal networks are exploiting these conditions to target individuals through messaging platforms that have become central to daily communication. What may appear to be small-scale personal losses are now accumulating into a global financial burden of unprecedented proportions.

For the first time, Kaspersky’s research provides a worldwide assessment of the scale and economic impact of messaging scams, exposing a problem that has largely escaped comprehensive measurement by governments and regulatory authorities.

A hidden economic burden on households

The study highlights how financial pressure is creating fertile ground for fraud. As living costs continue to rise, households are becoming increasingly vulnerable to schemes promising financial opportunities, urgent assistance, or seemingly legitimate services.

In Morocco, victims lose an average of $504.28 after falling for a messaging scam. For many families, that amount represents money that would otherwise be used for essential expenses such as food, utilities, or transportation.

The impact is even more severe for nearly 8 percent of Moroccan victims, who report losses exceeding $1,350. In an environment where many households are already struggling with economic challenges, such losses can significantly worsen financial hardship.

Individually, these figures may appear manageable. Collectively, however, they reveal a staggering global cost. With approximately three billion messaging app users worldwide, even a conservative estimate that 10 percent become victims would translate into losses exceeding $219.9 billion. Such a figure rivals the annual economic output of a medium-sized nation.

Yet the true scale of the damage remains largely invisible. In Morocco, only 18.4 percent of victims report scams to law enforcement, while 16.8 percent notify their banks. As a result, a substantial portion of financial losses never appears in official crime statistics or economic indicators.

From opportunistic fraud to industrialized crime

The research suggests that messaging scams have reached a critical stage of evolution.

More than half of all reported scams, representing 52 percent of incidents, occurred within the past five months. Even more concerning, 28 percent of respondents reported being targeted three or more times.

These figures point to a shift away from isolated criminal activity toward highly organized and industrialized fraud operations capable of targeting victims repeatedly and at scale.

For most respondents, scam attempts are recent experiences rather than distant memories. On average, victims encountered their most recent attempt within the past six months. More than one quarter reported receiving fraudulent messages within the previous three to five months.

The data suggests that exposure to these schemes is accelerating across multiple regions and demographic groups.

According to Dr. Elisabeth Carter, forensic linguist and criminologist at Kingston University London, scammers carefully construct believable social scenarios and familiar communication patterns to convince victims that their decisions are rational at the time.

Rather than relying solely on technical deception, fraudsters create alternative realities that manipulate trust, urgency, and emotional responses. This makes recognizing a scam significantly more difficult, especially when the message appears to come from a trusted source or reflects a realistic situation.

Messaging platforms become the new frontline

Unlike traditional online scams that often originated on obscure websites, modern fraud campaigns increasingly take place directly within trusted messaging applications.

The study found that victims are distributed relatively evenly across Generation Z, Millennials, and Generation X, challenging the common perception that older users are the primary targets.

In Morocco, investment scams account for 54 percent of reported messaging fraud cases, making them the most common category. Brand impersonation scams follow at 45.6 percent, while fake delivery schemes represent 31.6 percent.

These attacks are designed to closely mimic legitimate communications from companies, financial institutions, or service providers. By leveraging familiarity and creating a sense of urgency, criminals persuade victims to transfer money or disclose sensitive information before they have time to verify the authenticity of the request.

Globally, Millennials appear particularly vulnerable to investment-related scams, representing 40 percent of victims within this category.

Researchers suggest that economic realities play an important role. Rising housing costs, financial instability, and growing concerns about long-term wealth creation have increased interest in investment opportunities. Cybercriminals exploit these aspirations by promoting offers that promise unusually high returns or rapid financial gains.

The result is a cycle in which individuals seeking financial security become targets of schemes that further undermine their economic stability.

A growing challenge for economic security

Kaspersky argues that messaging scams should no longer be viewed solely as a cybersecurity issue.

The cumulative effect of these crimes weakens household resilience, reduces consumer confidence in digital services, and creates broader economic consequences. As financial losses spread across millions of victims, they gradually erode spending power and contribute to economic instability.

The company warns that messaging fraud has become a macroeconomic concern requiring coordinated action from consumers, businesses, financial institutions, and policymakers.

Protecting users and businesses

To reduce exposure to messaging scams, Kaspersky recommends several measures.

Consumers should deploy comprehensive security solutions capable of detecting phishing attempts and malicious links in real time. Strong password management practices are also essential, including the use of password managers to securely store credentials and reduce the risk of account compromise.

Education remains equally important. Understanding common scam tactics and discussing suspicious online interactions with family members or trusted contacts can help identify warning signs before financial losses occur.

Businesses also have a role to play. Companies are encouraged to invest in monitoring tools that detect fraudulent use of their brands across social media platforms, online marketplaces, and areas of the dark web. Early detection can help prevent criminals from exploiting corporate identities to deceive customers.

Marc Rivero, Lead Security Researcher at Kaspersky’s Global Research and Analysis Team, warns that messaging scams are quietly stripping households of financial resources at a time when economic pressures are already intense.

He notes that these highly organized fraud operations operate at remarkable speed and scale across multiple communication channels, making proactive detection and verification more important than ever.

What comes next

As messaging platforms continue to dominate digital communication, scammers are likely to refine their techniques and expand their reach. The growing professionalization of cybercrime suggests that messaging fraud will remain a major challenge for consumers and businesses alike.

The findings underscore a broader reality. What begins as a fraudulent message sent to a single user can ultimately contribute to a global economic problem measured in hundreds of billions of dollars. Combating that threat will require greater awareness, stronger reporting mechanisms, enhanced cybersecurity tools, and closer cooperation between public and private stakeholders.