The FBI's Internet Crime Complaint Center (IC3) has been hit with a surge in reported cybercrimes for the year 2023, detailing a troubling trend in the digital age. The annual report showed an influx of over 880,000 complaints of internet crime with potential losses soaring past $12.5 billion, marking a near 10% jump in the number of complaints and a staggering 22% climb in financial damages compared to the previoius year. Phishing and spoofing led the charge with a reported 298,000 incidents, while breaches of personal data saw over 55,000 complaints, and non-payment/non-delivery scams were not far behind at 50,000 grievances reported.
Investment scams stole the spotlight as the top money drain according to the IC3, with victims hemorrhaging a total of $4.57 billion in losses, a 38% increase for such schemes over 2022. Crypto-currencyinvestment frauds, included in these numbers, alone accounted for a staggering $3.94 billion in losses, a jump of 53% from the previous year. Business email compromise (BEC) and tech support scams followed closely behind, carving out $2.9 billion and $924 million in reported losses, respectively. Americans between 30 and 49 years old were especially susceptible to investment scams, while those over 60 suffered the brunt of losses from tech support deceptions, according to FBI Philadelphia.
Ransomware also continued its menacing presence, escalating to over 2,800 incidents with reported losses jumping 74% to $59.6 million. Attack on critical infrastructure sectors like healthcare, public health, critical manufacturing, and government facilities were notably reported. Pennsylvania found itself among the top 10 states hit hardest by these crimes, with over 16,000 complaints and losses amounting to over $360.3 million, placing it seventh in the nation for the number of complaints and sixth for financial losses, as per the FBI Philadelphia.
Wayne A. Jacobs, Special Agent in Charge of FBI Philadelphia, warned the public to remain on guard. "Combatting complex financial fraud schemes remains a top priority for the FBI. While the goal of these crimes remains the same, we continue to see fraudsters evolve in how they leverage technology to execute their scams," he explained in a cautionary tale, as reorted by the FBI Philadelphia. Jacobs further emphasized that "fraudsters from anywhere in the world are increasingly leveraging digital tools to target victims at scale" and urged the community to always report suspected internet crimes to the IC3.
