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FBI: $2.7 Billion in Losses to Cyber-Enabled Crimes in 2018

Internet Crime Complaint Center (IC3) last year received an average of 900+ reports daily of Internet-enabled theft, fraud, and exploitation.

The FBI's Internet Crime Complaint Center (IC3) in 2018 received 351,936 complaints of Internet-related crimes and scams that amassed some $2.7 billion in financial losses.

The most common reports were of non-payment/non-delivery scams, extortion, and personal data breaches, with the most losses to business email compromise (BEC), romance fraud, and investment scams. US citizens over the age of 50 were hit the most by these crimes.

"The 2018 report shows how prevalent these crimes are," said Donna Gregory, chief of the IC3. "It also shows that the financial toll is substantial and a victim can be anyone who uses a connected device. Awareness is one powerful tool in efforts to combat and prevent these crimes. Reporting is another. The more information that comes into the IC3, the better law enforcement is able to respond."

There was one bit of positive news: the IC3's new Recovery Asset Team last year was able to retrieve $192 million in losses to scammed businesses.

Read more here

 

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