Cybercriminals have inflicted a record-breaking $16.6 billion in losses across the United States in 2024, representing a significant 33% increase from the previous year, according to the FBI's latest findings.

Annual IC3 Report Highlights

The FBI's Internet Crime Complaint Center (IC3) documented 859,532 complaints last year, with 256,256 of these resulting in financial loss. The average loss per incident was calculated at $19,372.

Impact on Vulnerable Groups

Older Americans, particularly those over the age of 60, were the most affected demographic, filing 147,127 complaints that accounted for approximately $4.8 billion in losses.

Ransomware and Fraud Dominance

Fraud remains the leading cause of financial loss, while ransomware continues to pose a significant threat to critical infrastructure. Ransomware complaints increased by 9% compared to 2023.

IC3's Historical Data

Since its inception, IC3 has amassed over 9 million complaints. Initially, the center received about 2,000 complaints monthly, but this figure has surged to over 2,000 daily in recent years.

  • In the past five years, IC3 has processed 4.2 million complaints.
  • These complaints correspond to $50.5 billion in total losses.
  • On average, 836,000 complaints are recorded annually.

Understanding the Reported Figures

It's crucial to recognize that the figures in IC3's report are derived from known cases reported by victims or uncovered by law enforcement. These numbers represent only a portion of the actual cybercrime impact, as many incidents remain unreported.

Limitations in Ransomware Loss Reporting

Ransomware loss estimates only account for reported ransom payments, excluding other costs like lost business, downtime, and recovery expenses. Many entities do not report their losses, leading to an understated overall loss figure.

Additionally, the reported numbers only include cases filed through IC3, not those reported directly to FBI field offices.

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