Security Magazine logo
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • MANAGEMENT
  • PHYSICAL
  • CYBER
  • BLOG
  • COLUMNS
  • EXCLUSIVES
  • SECTORS
  • EVENTS
  • MEDIA
  • MORE
  • EMAG
  • SIGN UP!
cart
facebook twitter linkedin youtube
  • NEWS
  • Security Newswire
  • Technologies & Solutions
  • MANAGEMENT
  • Leadership Management
  • Enterprise Services
  • Security Education & Training
  • Logical Security
  • Security & Business Resilience
  • Profiles in Excellence
  • PHYSICAL
  • Access Management
  • Fire & Life Safety
  • Identity Management
  • Physical Security
  • Video Surveillance
  • Case Studies (Physical)
  • CYBER
  • Cybersecurity News
  • More
  • COLUMNS
  • Cyber Tactics
  • Leadership & Management
  • Security Talk
  • Career Intelligence
  • Leader to Leader
  • Cybersecurity Education & Training
  • EXCLUSIVES
  • Annual Guarding Report
  • Most Influential People in Security
  • The Security Benchmark Report
  • Top Guard and Security Officer Companies
  • Top Cybersecurity Leaders
  • Women in Security
  • SECTORS
  • Arenas / Stadiums / Leagues / Entertainment
  • Banking/Finance/Insurance
  • Construction, Real Estate, Property Management
  • Education: K-12
  • Education: University
  • Government: Federal, State and Local
  • Hospitality & Casinos
  • Hospitals & Medical Centers
  • Infrastructure:Electric,Gas & Water
  • Ports: Sea, Land, & Air
  • Retail/Restaurants/Convenience
  • Transportation/Logistics/Supply Chain/Distribution/ Warehousing
  • EVENTS
  • Industry Events
  • Webinars
  • Solutions by Sector
  • Security 500 Conference
  • MEDIA
  • Videos
  • Podcasts
  • Polls
  • Photo Galleries
  • Videos
  • Cybersecurity & Geopolitical Discussion
  • Ask Me Anything (AMA) Series
  • MORE
  • Call for Entries
  • Classifieds & Job Listings
  • Continuing Education
  • Newsletter
  • Sponsor Insights
  • Store
  • White Papers
  • EMAG
  • eMagazine
  • This Month's Content
  • Advertise
Security Magazine logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Security Magazine logo
  • NEWS
    • Security Newswire
    • Technologies & Solutions
  • MANAGEMENT
    • Leadership Management
    • Enterprise Services
    • Security Education & Training
    • Logical Security
    • Security & Business Resilience
    • Profiles in Excellence
  • PHYSICAL
    • Access Management
    • Fire & Life Safety
    • Identity Management
    • Physical Security
    • Video Surveillance
    • Case Studies (Physical)
  • CYBER
    • Cybersecurity News
    • More
  • BLOG
  • COLUMNS
    • Cyber Tactics
    • Leadership & Management
    • Security Talk
    • Career Intelligence
    • Leader to Leader
    • Cybersecurity Education & Training
  • EXCLUSIVES
    • Annual Guarding Report
    • Most Influential People in Security
    • The Security Benchmark Report
    • Top Guard and Security Officer Companies
    • Top Cybersecurity Leaders
    • Women in Security
  • SECTORS
    • Arenas / Stadiums / Leagues / Entertainment
    • Banking/Finance/Insurance
    • Construction, Real Estate, Property Management
    • Education: K-12
    • Education: University
    • Government: Federal, State and Local
    • Hospitality & Casinos
    • Hospitals & Medical Centers
    • Infrastructure:Electric,Gas & Water
    • Ports: Sea, Land, & Air
    • Retail/Restaurants/Convenience
    • Transportation/Logistics/Supply Chain/Distribution/ Warehousing
  • EVENTS
    • Industry Events
    • Webinars
    • Solutions by Sector
    • Security 500 Conference
  • MEDIA
    • Videos
      • Cybersecurity & Geopolitical Discussion
      • Ask Me Anything (AMA) Series
    • Podcasts
    • Polls
    • Photo Galleries
  • MORE
    • Call for Entries
    • Classifieds & Job Listings
    • Continuing Education
    • Newsletter
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • This Month's Content
    • Advertise
  • SIGN UP!
Security Newswire

Over $2.7 Billion in Losses due to Internet Crime

data-enews
April 30, 2019

The FBI’s Internet Crime Complaint Center (IC3) reported an increase in the number of complaints from 301,580 in 2017 to 351,000 in 2018, with losses exceeding $2.7 Billion.

Over the years of 2014 to 2018, IC3 received a total of 1,509,679 complaints and a total loss of $7.45 billion. Hot topics included Business Email Compromise (BEC), Payroll Diversion scam, tech support fraud and extortion. 

Business Email Compromise: 

The IC3 received 20,373 BEC/E-mail Account Compromise (EAC) complaints with adjusted losses of over $1.2 billion. In 2018, the IC3 received an increase in the number of BEC/EAC complaints requesting victims purchase gift cards. The victims received a spoofed email, a spoofed phone call or a spoofed text from a person in authority requesting the victim purchase multiple gift cards for either personal or business reason. 

Payroll Diversion Scams:

In 2018, the IC3 received approximately 100 complaints with a combined reported loss of $100M. In the Payroll Diversion scam, cybercriminals target employees through phishing emails designed to capture an employee’s login credentials. Institutions most affected by this scam have been education,
healthcare and commercial airway transportation.

Tech Support Fraud:

Tech support fraud continues to be a growing problem. In 2018, the IC3 received 14,408 complaints related to tech support fraud from victims in 48 countries. The losses amounted to nearly $39 million, which represents a 161 percent increase in losses from 2017. The majority of victims reported to be over 60 years of age.

Extortion:

In 2018, the IC3 received 51,146 extortion-related complaints with adjusted losses of over $83 million which represents a 242 percent increase in extortion related complaints from 2017. Extortion occurs when a criminal demands something of value from a victim by threatening physical or financial harm or the release of sensitive data. Extortion is used in various schemes reported to the IC3, including Denial of Service attacks, government impersonation schemes and high-profile data breaches.

 

KEYWORDS: cybercriminal data breach Fraud Investigations phishing scams

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • Security's Top Cybersecurity Leaders 2024

    Security's Top Cybersecurity Leaders 2024

    Security magazine's Top Cybersecurity Leaders 2024 award...
    Cybersecurity
    By: Security Staff
  • cyber brain

    The intersection of cybersecurity and artificial intelligence

    Artificial intelligence (AI) is a valuable cybersecurity...
    Cybersecurity
    By: Pam Nigro
  • artificial intelligence AI graphic

    Assessing the pros and cons of AI for cybersecurity

    Artificial intelligence (AI) has significant implications...
    Cybersecurity Education & Training
    By: Charles Denyer
close

1 COMPLIMENTARY ARTICLE(S) LEFT

Loader

Already Registered? Sign in now.

Manage My Account
  • Security eNewsletter & Other eNews Alerts
  • eMagazine Subscriptions
  • Manage My Preferences
  • Online Registration
  • Mobile App
  • Subscription Customer Service

Security’s Top 5 – 2024 Year in Review

Security’s Top 5 – 2024 Year in Review

The Money Laundering Machine: Inside the global crime epidemic - Episode 24

The Money Laundering Machine: Inside the global crime epidemic - Episode 24

Middle East Escalation, Humanitarian Law and Disinformation – Episode 25

Middle East Escalation, Humanitarian Law and Disinformation – Episode 25

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Security audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Security or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Sureview screen
    Sponsored bySureView Systems

    The Evolution of Automation in the Command Center

  • Crisis Response Team
    Sponsored byEverbridge

    Automate or Fall Behind – Crisis Response at the Speed of Risk

  • Perimeter security
    Sponsored byAMAROK

    Why Property Security is the New Competitive Advantage

Popular Stories

Rendered computer with keyboard

16B Login Credentials Exposed in World’s Largest Data Breach

Verizon on phone screen

61M Records Listed for Sale Online, Allegedly Belong to Verizon

Security’s 2025 Women in Security

Security’s 2025 Women in Security

Red spiderweb

From Retail to Insurance, Scattered Spider Changes Targets

blurry multicolored text on black screen

PowerSchool Education Technology Company Announces Data Breach

Events

August 7, 2025

Threats to the Energy Sector: Implications for Corporate and National Security

The energy sector has found itself in the crosshairs of virtually every bad actor on the global stage.

August 27, 2025

Risk Mitigation as a Competitive Edge

In today’s volatile environment, a robust risk management strategy isn’t just a requirement—it’s a foundation for organizational resilience. From cyber threats to climate disruptions, the ability to anticipate, withstand, and adapt to disruption is becoming a hallmark of industry leaders.

View All Submit An Event

Products

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

See More Products

Related Articles

  • Digital cursor

    $16 billion: The amount of internet crime losses in 2024

    See More
  • wildfire

    More than $103 billion in economic losses due to natural disasters in 2019

    See More
  • agriculture losses due to natural disasters in the billions in 2020

    Agriculture companies and farmers faced at least $3.6 billion in uncovered losses in 2020 due to natural disasters

    See More

Related Products

See More Products
  • 9780367221942.jpg

    From Visual Surveillance to Internet of Things: Technology and Applications

  • 9781138378339.jpg

    Surveillance, Crime and Social Control

  • 9780815378068.jpg.jpg

    Biometrics, Crime and Security

See More Products
×

Sign-up to receive top management & result-driven techniques in the industry.

Join over 20,000+ industry leaders who receive our premium content.

SIGN UP TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing

Security Magazine logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Security Magazine logo
  • NEWS
    • Security Newswire
    • Technologies & Solutions
  • MANAGEMENT
    • Leadership Management
    • Enterprise Services
    • Security Education & Training
    • Logical Security
    • Security & Business Resilience
    • Profiles in Excellence
  • PHYSICAL
    • Access Management
    • Fire & Life Safety
    • Identity Management
    • Physical Security
    • Video Surveillance
    • Case Studies (Physical)
  • CYBER
    • Cybersecurity News
    • More
  • BLOG
  • COLUMNS
    • Cyber Tactics
    • Leadership & Management
    • Security Talk
    • Career Intelligence
    • Leader to Leader
    • Cybersecurity Education & Training
  • EXCLUSIVES
    • Annual Guarding Report
    • Most Influential People in Security
    • The Security Benchmark Report
    • Top Guard and Security Officer Companies
    • Top Cybersecurity Leaders
    • Women in Security
  • SECTORS
    • Arenas / Stadiums / Leagues / Entertainment
    • Banking/Finance/Insurance
    • Construction, Real Estate, Property Management
    • Education: K-12
    • Education: University
    • Government: Federal, State and Local
    • Hospitality & Casinos
    • Hospitals & Medical Centers
    • Infrastructure:Electric,Gas & Water
    • Ports: Sea, Land, & Air
    • Retail/Restaurants/Convenience
    • Transportation/Logistics/Supply Chain/Distribution/ Warehousing
  • EVENTS
    • Industry Events
    • Webinars
    • Solutions by Sector
    • Security 500 Conference
  • MEDIA
    • Videos
      • Cybersecurity & Geopolitical Discussion
      • Ask Me Anything (AMA) Series
    • Podcasts
    • Polls
    • Photo Galleries
  • MORE
    • Call for Entries
    • Classifieds & Job Listings
    • Continuing Education
    • Newsletter
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • This Month's Content
    • Advertise
  • SIGN UP!