Digital standards bodies in the US and UK have announced plans to join together to help prevent $8.2bn in ad spend being lost annually as a result of issues such as brand safety, fraud and buying transparency.

The US-headquartered Trustworthy Accountability Group (TAG) and UK-based Joint Industry Committee for Web Standards (JICWEBS) said they plan to work together to address the challenges facing digital media, notably in light of recent comments by Procter & Gamble marketing chief Marc Pritchard.

TAG was established by the IAB, the Association of National Advertisers and the American Association of Advertising Agencies to combat malware and internet privacy, while JICWEBS is an alliance of industry bodies including the IAB, ISBA, the IPA and AOP, with the aim of tackling fraud, brand safety and viewability.

In a statement, the organisation said they will aim to “transfer learnings” between respective initiatives to improve their effectiveness and create a “united and consistent approach” across markets in tackling criminal activity.

Mike Zaneis, president and chief executive of TAG, said: “Since 2014 TAG has built programs to tackle fraud, malware and piracy in digital advertising, as well as promote transparency and brand safety. However the message from advertisers is clear: we need a consistent and joined up approach across markets and we look forward to working with JICWEBS to progress delivering this.”

Richard Foan, chair of JICWEBS, added: “JICWEBS has made great strides in promoting greater transparency in the UK digital advertising market, as well as minimising the risk of advertising fraud. But we need a global approach for local markets and I believe JICWEBS and TAG will offer this.”