The problem of inflated ads is currently very real for bigger players, who rely on paid traffic—I’ve worked with a company which did buy large quantities. They were employing several employees to just check and negotiate with the ad-publishers each month about the fraud rates, because the performance (meaning the chosen method—i.e. CPM, CPC, CPL, CPA) were vastly different between the ad-publishers, and it didn’t make sense.
So there definetly was fraud involved, but it was extremely hard (and expensive) to weed fraudulent advertisers out.
Your scenario of an email newsletter is a special case, because it’s virtually impossible to introduce any form of client run code to check for fraud, and can only start your fraud detection after the traffic hit your website.
I’ve trained my kids to stay a clear distance away (usually a few meters) from the road and pedestrian crossing, until the rest of us catched up. If drivers stop or slow down nonetheless, they shake their head while waving the driver through. Best solution I have so far.
I do the same for busses, if no one else is waiting with me, so that the bus drivers can just skip the stop (if no one wants to get off).