The document summarizes the results of a survey on the economic costs and impacts of fake news. Some key findings include: - The estimated annual global economic cost of fake news is $78 billion according to research. - 93% of respondents believe fake news is a very serious or somewhat serious problem for society. - 76% of respondents think the COVID-19 pandemic has led to an increase in the amount of fake news. - The top three sources of fake news according to respondents are social media (60%), friends and relatives (10%), and media (8%).

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The
Results
Are In!

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$39 BILLION
Stock Market
Losses and
Volatility
$17 BILLION PER YEAR
Financial
Misinformation in
U.S Alone
$9.54 BILLIONReputation
Management
$9 BILLION
Public Health
Misinformation in
U.S Alone
$3 BILLIONOnline Platform
Safety
$400 MILLIONPolitical Spend
$250 MILLIONBrand Safety
We conducted a survey to understand the sentiments
regarding the two-fold problem of COVID-19 and the
ensuing Fake News snowball.
170 individuals from 17 countries participated in the survey.
$78 Billion Annually, according
to the research conducted by a University
of Baltimore economist and a AI and
cybersecurity company, CHEQ.
Surge In Economic Cost
Of Fake News
The Coronavirus Pandemic
Has Seen A Surge In The
Volume, Velocity And Impact Of
Fake News.
This Is Leading To Economic &
Reputation Loss For
Organizations, Across The
World

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Countries # Of Sectors17 64
Who Responded To This Survey?
170
Individuals

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Entry Level
Age Distribution Seniority Level
Who Responded To This Survey?
10%
29%
24%
28%
7%
2%
18 - 25 Years
26 - 35 Years
36 - 45 Years
46 - 60 years
60+ Years
Less Than 18 Years
CXO / Owner / Partner
Senior Management
Middle Management
25%
20%
38%
17%

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Respondents Believe
That Fake News Is A
Problem For The
Society
82%
Very Serious Problem
10%
Problem, But Not
Serious
1%
It’s a Small Issue
5%
Not a Problem At All
2%
Have No Say
Do People Consider Fake News A
Problem?
93%

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Of Respondents
Encountered Fake
News More Than
Once A Week
How Frequently Did Respondents
Come Across Fake News, In A
Week?
88%
10 10
84
45
21
None Only 1 Between 1 & 9 Between 10 & 15 More than 15

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60%
Social Media
8%
Media
10%
Friends &
Relatives
14%
Political Parties
3%
Criminals / Enemies /
Terrorists
5%
Others
Who Is Most Responsible For The
Spread Of Fake News?
# Of Respondents Feel That
“Intermediaries” Of Fake News
i.e. Social Media, Friends, Family
etc. are most responsible for the
spread of Fake News
69%

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Respondents Believe
That The Coronavirus
Pandemic Has Led To
An Increase In The
Amount Of Fake News
How Has COVID-19 Impacted The
Flow Of Fake News?
Major Reduction
66 62
4
13
25
76%

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In All Cases In Most Cases In Some Cases In Very Few Cases Not At All
CXO / Owner / Partner
Senior Management
Middle Management
Entry Level
Respondents Believe
That Fake News Is
Inadequately Checked
For, Prior To Taking
Strategic Decisions
55%
24
52
49
25
20
Are Strategic Decisions Taken After
Checking For Fake News?

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Top 3 Takeaways
1Fake News, Especially
Post COVID-19, Has
Become A Big Problem
For Society &
Businesses Alike
2Social Media Is
Considered One Of the
Biggest Culprits In The
Growth Of Fake News,
As Consumption and
Eyeballs On These
Platforms, Has Increased
3While Fake News Is
Acknowledged As A
Growing & Critical
Problem, Important
Decisions And Business
Systems Are Not Aligned
To This Reality

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For More Surveys & Results
© Zigram Data Technologies Private Limited 2020.
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and is purely indicative of the approach recommended by ZIGRAM.