CyberNews Briefs

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

The FBI released its annual Internet Crime Complaint Center (IC3) report this week, which shows that the IC3 received close to 352,000 complaints related to cybercrimes last year, with the total losses from Internet-enabled crime estimated at $2.7 billion. The figures indicate a surge in cybercrime costs, which amounted to $1.4 billion in 2017, based on just over 301,000 complaints.

The most frequently reported crimes were non-payment/non-delivery scams, extortion, and personal data breaches, while victims lost most money as a result of business email compromise (BEC) scams, romance/confidence fraud, and investment scams such as Ponzi and pyramid schemes.

Donna Gregory, the head of IC3, believes the report shows not only how common Internet-enabled crime is, but also “that the financial toll is substantial and a victim can be anyone who uses a connected device.”

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

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