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Online fraud cost Americans $12.5bn last year — and the FBI says things will only get worse in 2024

TechradarTechradar · 7m
Online fraud cost Americans $12.5bn last year — and the FBI says things will only get worse in 2024

According to a report from the FBI's Internet Crime Complaint Center (IC3), online fraud in the US cost Americans over $12.5 billion in 2023, with a 10% increase in complaints compared to the previous year. Investment fraud was the most costly scam at $4.57 billion, followed by business email compromise at $2.9 billion, and ransomware attacks increased by 74%. However, the IC3's Recovery Asset Team successfully placed a hold on $538.39 million in potentially fraudulent transactions. Impersonation and tech/customer support scams accounted for $1.3 billion, with deepfake and AI-based fraud on the rise. The report also highlighted the industries most targeted by ransomware attacks. Since 2000, IC3 has received over 8 million complaints.

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