Security News > 2024 > March > FBI: U.S. lost record $12.5 billion to online crime in 2023
FBI's Internet Crime Complaint Center has released its 2023 Internet Crime Report, which recorded a 22% increase in reported losses compared to 2022, amounting to a record of $12.5 billion.
The number of relevant complaints submitted to the FBI in 2023 reached 880,000, 10% higher than the previous year, with the age group topping the report being people over 60, which shows how vulnerable older adults are to cybercrime.
IC3's 2023 Internet Crime Report highlights four online crimes that caused the most financial losses in the United States last year: Business Email Compromise, investment fraud, ransomware, and tech/customer support and government impersonation scams.
"In 2023, the losses reported due to Investment scams became the most of any crime type tracked by the IC3," explained the 2023 Internet Crime Report.
It is important to note that all figures mentioned in the present report are based on known cases of internet crime that were reported by victims or discovered by independent law enforcement action.
The report mentions that RAT managed to trace some stolen funds from incidents reported to the agency in 2023, highlighting the reversal of a $50 million payment made to BEC actors by a New York-based organization, a $426,000 BEC loss in Connecticut, and the freezing of nearly $45 million linked to internet crimes.