FBI: Extortion, CEO Fraud Among Top Online Fraud Complaints in 2016
Summary: The FBI's Internet Crime Complaint Center received 298,728 complaints in 2016 with total victim losses of $1.33 billion, including 17,146 extortion complaints totaling just over $15 million and 2,673 ransomware complaints totaling slightly more than $2.4 million. The IC3 logged slightly more than 12,000 CEO fraud complaints with losses over $360 million, and 10,850 reports of tech support scams with around $7.8 million in reported loss.
Why it matters: The report notes only an estimated 15 percent of fraud victims report to law enforcement, which would put real 2016 cyber fraud costs near $9 billion and CEO fraud losses around $2.4 billion - meaning the numbers your board sees from IC3 understate the actual exposure by roughly a factor of six.
Read the original at Krebs on Security ↗
- Topics
- Cybercrime & Law Enforcement
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