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Internet Crime on the Rise; Reaches $1.3 Billion in 2016

The financial loss from cybercrime in the U.S. exceeded $1.3 billion in 2016, a rise of 24 percent, according to a report by the Federal Bureau of Investigation's Internet Crime Complaint Center (IC3).

The "2016 Internet Crime Report," examined the most prevalent and most damaging forms of cybercrimes today – like business email compromise (BEC), ransomware, tech support fraud, and extortion. It based its findings on nearly 300,000 complaints filed with the IC3, which compiles data from public complaints in order to refer cases to the appropriate law enforcement agencies as well as to identify trends.

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