In 2024, the FBI reported a record $16.6 billion lost to cybercrime, marking a 33% increase from 2023. The FBI’s Internet Crime Complaint Center (IC3) recorded 859,532 complaints, with over 256,000 linked to actual losses. The average loss per case was $19,372, with older Americans, particularly those over 60, being the most impacted group. This demographic filed over 147,000 complaints, totaling about $4.8 billion in losses.
Fraud was the primary cause of reported losses in 2024, with ransomware continuing to be the biggest threat. Ransomware-related complaints rose 9% from 2023, highlighting its persistent impact on critical infrastructure. Despite ongoing FBI efforts against cybercriminals, including their battle with the LockBit ransomware group, the losses reported are considered underreported. Many victims do not contact law enforcement, making the reported figures just a fraction of the actual damage.
The IC3 report shows that losses from ransomware attacks only account for reported ransom payments, excluding costs like lost business or system recovery. The FBI warned that ransomware figures do not represent the full extent of damages, as many businesses do not report all aspects of their recovery efforts. Fraud schemes originating from countries like Ghana and India, particularly through call centers, were also highlighted as significant contributors to cybercrime.
Chris Delgado, chief of the FBI’s financial crime section, emphasized that fraud is now a national priority. With phishing, extortion, personal data breaches, and investment schemes topping the complaint list, the FBI is focusing resources on combating these crimes. As the digital world continues to grow, cybercriminals are finding new opportunities, and the FBI’s ongoing efforts to gather and analyze reports are crucial to identifying patterns and bringing criminals to justice.
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