Newest FBI Report Shows $10B in Losses Last Year Due to Internet Scams

FBI Warns of Financial ExtortionThe 2022 Internet Crime Report by the FBI reported at least $10.3 billion in losses due to internet scams last year.

According to the FBI report, losses were the highest it's ever been in five years. Even the Internet Crime Complaint Center (IC3) received more than 2,000 complaints per day. The highest reported crime was phishing attacks, with accrued losses of $52 million in the last year. Data breaches and non-payment scams are next with over 50,000 victims, according to the report. 

Ransomware has also been a successful attack vector with $34 million in losses, and IC3 has included this warning, "The IC3 has seen an increase in an additional extortion tactic used to facilitate ransomware. The threat actors pressure victims to pay by threatening to publish the stolen data if they do not pay the ransom,"

Unfortunately, cyber attacks are not going away anytime soon. Cybercriminals are becoming more calculated in their attacks, and this report by the FBI proves that losses will only get higher for years to come. New-school security awareness training is the only way to make sure your users are prepared to report any potential attack in its tracks. 

ABC News has the full story

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Topics: Phishing, Ransomware

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