The FBI’s annual Internet Crime Complaint Center (IC3) report has been released, revealing alarming trends in cybercrime. Over the past year, losses attributed to cybercriminals totaled $16.6 billion, marking a 33% increase from the previous year. The bulk of these losses were due to fraud, particularly affecting Americans over 60, who faced approximately $4.8 billion in losses from over 147,127 complaints.

“As nearly all aspects of our lives have become digitally connected, the attack surface for cyber actors has grown exponentially. Scammers are increasingly using the Internet to steal Americans’ hard-earned savings,” said B. Chad Yarbrough.

This report highlights the staggering number of daily complaints—averaging over 2,000 each day for the past five years. Key challenges persist as many ransomware-related losses likely go unreported, leaving a significant gap in the total financial impact of cybercrime.

For more insights and to access the full report, click here.