"U.S. Records $12.5 Billion Loss to Online Crime in 2023"
The FBI's Internet Crime Complaint Center (IC3) reported a record $12.5 billion in online crime losses in 2023, with a 22% increase from the previous year. The most financially damaging crimes included Business Email Compromise (BEC), investment fraud, ransomware, and tech/customer support and government impersonation scams. The report highlighted the vulnerability of older adults to cybercrime, with recovery efforts by the IC3's Recovery Asset Team managing to freeze millions in stolen funds. However, the reported figures are likely only a portion of the actual losses caused by cybercrime, as many incidents go undetected or unreported.