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A record $12.5 billion in losses from online scams were reported to the FBI in 2023, fueled by a surge in cryptocurrency investment fraud, the bureau said in a report released Wednesday.
The FBI received more than 100,000 complaints by victims of scams over the age of 60 last year, with nearly 6,000 people losing more than $100,000. It follows a sharp rise in reported losses by older Americans in the two years after the 2020 coronavirus pandemic, when people were stuck at home and easier for scammers to reach over the phone.
It turned out May, 62, had gotten caught up in an increasingly common internet scam — and also a new FBI initiative to protect people from financial ruin.
The Internet Crime Complaint Center ( IC3) is a division of the Federal Bureau of Investigation (FBI) concerning suspected Internet-facilitated criminal activity. The IC3 gives victims a convenient and easy-to-use reporting mechanism that alerts authorities of suspected criminal or civil violations on the Internet.
According to the FBI's 2017 Internet Crime Report, the Internet Crime Complaint Center (IC3) received about 300,000 complaints. Victims lost over $1.4 billion in online fraud in 2017. [4] According to a study conducted by the Center for Strategic and International Studies (CSIS) and McAfee , cybercrime costs the global economy as much as $600 ...
In the first half of 2023, 19,000 complaints were filed with the FBI Internet Crime Complaint Center, according to the release. The estimated loss from the reported scams totaled over $542 million.
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