FBI pushes global crackdowns as cybercrime losses soar

The FBI and law enforcement partners from Canada, Australia, and Nigeria conducted a first-of-its kind operation (called Artemis) that resulted in charges against some of the most egregious perpetrators of financially motivated sextortion in Lagos, Nigeria, in 2023. (FBI)

By Chris Riotta • Apr 25, 2025

The FBI strongly backed expanded information sharing with foreign allies and renewed efforts to fight global cybercrime in a Wednesday report that describes a 33% surge in losses reported to its Internet Crime Complaint Center.

The center reported a record $16.6 billion in losses due to cybercrime for 2023, driven largely by fraud and a 9% rise in ransomware targeting critical infrastructure. The 2024 IC3 report calls the surge “even more concerning” given ongoing efforts to disrupt threat actors, including actions against LockBit and Operation Level Up to detect cryptocurrency fraud in real time.

The FBI said it facilitated more than 215 arrests through 11 joint operations with Indian authorities in 2024 – a 700% jump from 2023 – the first full year of the partnership. In a media briefing ahead of the report’s release, officials credited the increase in arrests to stronger information sharing with international partners.