The Federal Bureau of Investigation (FBI) has released its annual Internet Crime Report, providing a detailed look at the growing tide of online crime in the United States. In 2023, the FBI's Internet Crime Complaint Center (IC3) recorded a record 880,418 cases, an increase of nearly ten percent compared to 2022. The FBI estimates the financial losses caused by the crimes at more than $12.5 billion.
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The FBI report (PDF) highlights the diverse threats posed by IT criminals, be they private or government actors, capable of causing significant disruption. Not only individuals are affected, but also critical infrastructures (KRITIS) such as educational institutions, law enforcement authorities and healthcare providers. In response, the FBI has taken actions such as partnering with the private sector, combating threats from U.S. networks, or unmasking perpetrators to cause them financial harm.
The IC3 plays a central role in combating IT crimes. Those affected can report incidents directly to the FBI. According to the FBI, these reports not only help solve cases, but also help understand the dynamics of the threat situation.
The report pays particular attention to investment fraud, which has been identified as the costliest form of online crime, with losses increasing from $3.31 billion in 2022 to $4.57 billion in 2023. Fraudulent business email compromise (BEC) comes in second with losses of $2.9 billion.
More and more ransomware cases
Ransomware attacks continue to increase, both in terms of the frequency of incidents and the associated financial losses. Despite this troubling development, the FBI has achieved success through targeted measures, particularly through the use of the Recovery Asset Team (RAT), which works with financial institutions to secure assets for victims.
According to the FBI, the top five ransomware variants reported to IC3 affecting critical infrastructure were Lockbit, ALPHV/Blackcat, Akira, Royal, and Black Basta. In 2023, IC3 received a total of 2,825 complaints related to ransomware attacks, with adjusted losses of more than $59.6 million. Given the prevalence of ransomware, it is almost astonishing that the damage caused by it will amount to “only” just under $60 million in the USA in 2023.
Older people complain more often about losses
It is also striking that the age of the victims seems to play a role in cybercrime. While there are still around 18,000 reported cases and losses of $40 million among those under 20, the group over 60 already has 3.4 billion losses and more than 100,000 reported incidents.
However, various factors could play a role, for example older people seem to be more lucrative for attackers. Younger people at the beginning or before the beginning of their working life are less likely to do so. Some seniors could also be more susceptible to contact attempts by scammers due to loneliness.
FBI for cooperation
Finally, the FBI report emphasizes the importance of reporting IT incidents to the IC3 to successfully prosecute criminals, share intelligence with partners, and protect the public. It underlines the need for coordinated efforts to address the growing threat.
(mack)