Key Takeaways from the FBI’s 2024 IC3 Cybercrime Report

The FBI’s Internet Crime Complaint Center (IC3) saw a sharp rise in financial losses from cybercrime in 2024, with total reported losses hitting $16.6 billion — the highest ever recorded, according to CyberScoop. This came alongside a 33% increase in complaints compared to 2023, with nearly 860,000 incidents reported. Cyber-enabled fraud was the biggest contributor, accounting for over $13 billion in losses. Investment scams, Business Email Compromise (BEC), and tech support fraud were among the top tactics used by cybercriminals.

Seniors were disproportionately affected, with individuals over 60 years old filing nearly 150,000 complaints and losing close to $4.9 billion. Many reported significant financial harm, with thousands losing more than $100,000 each. The increase in tech support and impersonation scams targeting older adults underscores a persistent vulnerability in this demographic, prompting greater concern for targeted awareness and intervention efforts.

The report also highlighted law enforcement efforts, including more than 215 arrests across international operations to disrupt call center-based scams. The FBI’s collaboration with global agencies has been instrumental in cracking down on widespread fraud campaigns. Meanwhile, ransomware remains a prominent threat, with 67 new variants identified and over 4,800 critical infrastructure organizations reporting related incidents.

Cryptocurrency continues to fuel fraud, with investment scams and the use of crypto ATMs contributing to nearly $9.3 billion in losses. Sextortion and other extortion-based schemes also spiked, while toll and courier scams emerged as growing threats. Despite these challenges, FBI-led initiatives have helped victims avoid over $800 million in ransom payments through preventive actions and recovery support.