FBI reveals ‘staggering’ $16.6B lost to cybercrime in 2024

A record $16.6 billion in cybercrime losses was reported to the FBI’s Internet Crime Complaint Center (IC3) in 2024.

This “staggering” amount represents a 33% rise compared to recorded losses in 2023, according to the IC3 Internet Crime Report 2024.

The bulk of these losses were as a result of cyber-enabled fraud – scams that use the internet for various nefarious purposes, including theft of money, data or identity, or the creation of counterfeit goods or services.

Cyber-enabled fraud made up 38% of complaints to IC3 and 83% of recorded losses, at $13.7 billion, in 2024.

Read more at Infosecurity Magazine