It is difficult to accurately estimate the extent of IUU fishing,
however, some efforts have been made to quantify it. Some scholars
suggest that IUU fishing accounts for global losses of between $10-
12 billion annually. Of these, only $1.25 billion are from the areas
beyond the jurisdiction of coastal states, with the remaining losses
directly deriving from the territorial waters of coastal countries
(HSTF, 2006). Varkey et al. (2010) studied IUU fisheries in the Raja
Ampat archipelago, Eastern Indonesia, and estimated that illegal
and unreported catches exceeded the reported catches by a factor
of 1.5, and the value of the unreported catch was $40 million.