FBI Releases Annual Internet Crime Report for 2023
The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) recently released its annual Internet Crime Report, which offers critical insights into the cyber threat landscape based on aggregated data from complaints reported during the last calendar year. The 2023 report reveals significant increases in both the frequency and financial impact of online fraud perpetrated by cybercriminals.
In 2023, the IC3 received a record number of complaints from the American public: 880,418 complaints with potential losses exceeding $12.5 billion, which is nearly a 10% increase in complaints and a 22% increase in losses compared to 2022. In the state-wide rankings, California received both the highest number of complaints and reported losses, with nearly 80,000 complaints and over $2 billion in losses.
Nationwide, the highest reported losses from any crime were attributable to investment scams last year. An investment scam is a deceptive practice that induces investors to make purchases based on false information. These scams usually offer those targeted significant returns with minimal risk. Investment fraud losses rose to $4.57 billion in 2023, a 38% increase from the previous year.
Within these numbers, crypto-investment fraud losses rose to $3.94 billion in 2023, an increase of 53% from the previous year. The report shows that nationally and locally, victims 30 to 49 years old were the most likely group to report losses from investment fraud.
According to the report, the most frequently reported crime in 2023 was phishing schemes, which use unsolicited email, text messages, and telephone calls purportedly from a legitimate company to request personal, financial, and/or login credentials. Over 298,000 complaints were filed about phishing schemes last year, which accounted for approximately 34% of all reported complaints.
If you or your business are a victim of an Internet crime, the FBI recommends immediately notifying all financial institutions involved in the relevant transactions, submitting a complaint to www.ic3.gov, and contacting your nearest FBI field office as well as local law enforcement.
The full 2023 Internet Crime Report can be found here.
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Nathan Muller is the author of 29 technical books and over 3,000 articles that have appeared in 75 publications worldwide. He also writes articles, blogs and social media content for tech companies and their executives.
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