$16 billion: The amount of internet crime losses in 2024
Liam Briese via Unsplash
The Federal Bureau of Investigation (FBI) released its 2024 Internet Crime Report, assessing 859,532 complaints of suspected internet crime. According to the report, internet crime losses exceeded $16 billion in 2024. This represents a 33% increase from the previous year.
Most complaints originated from California, Texas and Florida; additionally, individuals over the age of 60 reported the most complaints and the highest losses at $5 billion.
Furthermore, the top three cybercrimes reported in 2024 were:
- Phishing/spoofing
- Extortion
- Personal data breaches
However, targets of investment fraud (particularly those involving cryptocurrency) reported the greatest losses of more than $6.5 billion.
“Reporting is one of the first and most important steps in fighting crime so law enforcement can use this information to combat a variety of frauds and scams,” states Kash Patel, Director of the FBI. “The IC3, which is celebrating its 25th anniversary this year, is only as successful as the reports it receives; that’s why it’s imperative that the public immediately report suspected cyber-enabled criminal activity to the FBI.”
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