# The FBI Reports a Record $16.6 Billion in Cybercrime Losses for 2024
The FBI's annual Internet Crime Complaint Center (IC3) report has been published, revealing a stark reality: cybercriminals have struck gold, with reported losses reaching a staggering $16.6 billion last year. This figure represents a 33% increase from the previous year and is the highest on record.
The IC3, which was established in 2000, receives complaints on a wide range of cyber-related crimes, including online fraud, hacking, economic espionage, and international money laundering. The latest report highlights the growing threat of cybercrime, with Americans over the age of 60 being the most vulnerable group, accounting for over 147,127 complaints and approximately $4.8 billion in losses.
The FBI's operations director for criminal and cyber, B. Chad Yarbrough, attributes the rise in cybercrime to the increasing interconnectedness of our digital lives. "As nearly all aspects of our lives have become digitally connected, the attack surface for cyber actors has grown exponentially," he said. "Scammers are increasingly using the Internet to steal Americans' hard-earned savings."
The majority of reported losses were attributed to fraud, with ransomware being the most pervasive threat to critical infrastructure, accounting for a 9% increase from the previous year.
However, the FBI's report only provides a partial picture of the true extent of cybercrime. The organization notes that it only publishes figures on crimes discovered by its own agents or reported directly by US residents, leaving out estimates of lost business, time, wages, files, or equipment. This omission creates an artificially low overall ransomware loss rate.
Furthermore, in some cases, entities do not report any losses to the FBI, thereby distorting the overall picture. The IC3's report aims to promote public awareness of the scale and proliferation of online crime, with the latest figures serving as a stark reminder that cybercrime is a growing concern.
"While the top threats facing our country have certainly shifted over the decades, protecting American citizens—whether that means your safety, your money, or your data—remains a cornerstone of the FBI's mission," said Yarbrough. "And in the fight against increasingly savvy criminals, the FBI also relies on you. Without the information you report to us through IC3 or your local FBI Field Office, we simply cannot piece together the puzzle of this ever-shifting threat landscape."
"If ever you suspect you're a victim of cyber-enabled crime, do not hesitate to let us know," Yarbrough emphasized.
As the fight against cybercrime continues, it's essential for individuals and organizations to remain vigilant. By reporting suspected cases of cybercrime to the IC3 or local FBI Field Office, citizens can help the organization piece together the puzzle of this ever-shifting threat landscape.
# Key Statistics:
* $16.6 billion in reported losses attributed to cybercrime * 33% increase from the previous year * Americans over 60 accounted for over 147,127 complaints and approximately $4.8 billion in losses * Ransomware was the most pervasive threat to critical infrastructure * The FBI only publishes figures on crimes discovered by its own agents or reported directly by US residents