Former Ad Man Bob Hoffman shared in his weekly rant:
“I have studied the economic costs of fraud in many sectors for decades, and I was left stunned by the scale of fraud in online advertising,” says Professor Roberto Cavazo of the University of Baltimore.
Professor Cavazo participated in a study conducted by cybersecurity firm Cheq called ‘The Economic Cost of Bad Actors on the Internet, Ad Fraud 2019” which was released last week. According to The Drum, the report states that the "Cost of Global Ad Fraud Could Top $30bn" this year.
This report repudiates the nonsense promulgated a few weeks ago by the clowns of the ANA (Association of National Advertisers) which claimed that the "War On Ad Fraud Is Succeeding" and fraud would fall to about $5 billion this year from $7.2 billion a few years ago.
According to The Drum, "...studies, which pin the cost of ad fraud at about $7.2bn per year, fail to capture the full extent of the damage...These studies often extrapolate from limited samples...Such studies also restrict the scope of their research to botnets, which are just one source of ad fraud..."
The feckless ANA continues to cover its ass and mislead its members, the industry and the public about the extent of criminal activity that is polluting online advertising and costing advertisers tens of billions.
The digital advertising director of the Financial Times, Anthony Hitchings, had this to say, “The scale of the fraud we found is jaw-dropping. The industry continues to waste marketing budgets on what is essentially organized crime." - For Bob's website go here. For info on having Bob speak, go here.
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