FBI Reports 33% Increase in Internet Crime Losses in 2024, Surpassing $16 Billion

April 23, 2025 TruthUSA

Phishing, extortion, and data breaches were the leading causes of complaints, particularly affecting older adults.

In 2024, internet-related crimes caused victims in the United States over $16.6 billion in losses, marking an unprecedented 33 percent rise from the previous year, as stated in a recent FBI report.

The report, part of the annual Internet Crime Complaint Center (IC3) findings, revealed that Americans submitted over 859,000 complaints last year, with more than 256,000 indicating financial damages. The average financial loss per incident surpassed $19,000.

“Today’s criminals may differ from those of the past, but their objective remains unchanged: to exploit Americans for their own gain,” remarked B. Chad Yarbrough, director of Criminal and Cyber Operations at the FBI. “Reflecting on IC3’s 25-year milestone, it’s clear that while the predominant threats our nation faces have transformed over time, safeguarding American citizens—whether it involves your safety, finances, or data—is fundamental to the FBI’s mission.”

Phishing and spoofing scams emerged as the most reported crime types, with over 193,000 complaints logged. Extortion ranked as the second most reported category, amassing more than 86,000 incidents, followed by personal data breaches that surpassed 64,000.

Investment scams resulted in the greatest financial losses, causing over $6.5 billion in reported damages. Following closely was business email compromise, with $2.77 billion in losses, tech support fraud at $1.46 billion, and personal data breaches tallying $1.45 billion.

Cryptocurrency played a significant role in online scams, mentioned in 149,000 complaints with total losses exceeding $9.3 billion—a 66 percent increase compared to 2023.

Individuals aged 60 and older experienced significant impacts, with nearly 150,000 complaints filed in 2024 and total losses reported at $4.9 billion—an over 40 percent increase from the previous year. The most prevalent scams targeting older adults included investment fraud, tech support scams, and romance fraud, making them the demographic most affected by cryptocurrency-related cases, with losses exceeding $2.8 billion.

“Reporting is crucial in the fight against crime, enabling law enforcement to utilize this data to tackle various frauds and scams,” stated FBI Director Kash Patel. “The IC3, celebrating its 25th anniversary this year, thrives on the reports it receives; thus, it’s imperative for the public to report any suspected cyber-enabled criminal activities to the FBI promptly.”

According to the FBI, the agency is expanding its prevention and recovery initiatives through collaborative partnerships and enforcement efforts. In one instance, the Recovery Asset Team successfully froze over $5 million tied to a business email compromise (BEC) scam affecting a property transaction in the U.S.

A business email compromise scam, or BEC, involves cybercriminals impersonating senior executives or trusted contacts to deceive employees into transferring funds or providing confidential information, as detailed in the report. These scams frequently utilize either hacked or spoofed email accounts to execute unauthorized transactions.

The agency also praised its international partnerships for their role in disrupting fraud syndicates and dismantling major ransomware and malware operations.

The FBI underscored the necessity of staying vigilant as cybercriminals continuously adapt their methods and urged the public to report suspected fraud incidents to the IC3. Since its inception 25 years ago, the center has recorded over 9 million complaints.

Source link