FBI: Online theft, fraud, exploitation caused losses of $2.7B globally in 2018, up from $1.4B in 2017

It could happen to you.

A new report from the Federal Bureau of Investigation's Internet Crime Complaint Center (IC3) says online theft, fraud, and exploitation caused losses of $2.7 billion dollars worldwide in 2018. This is up from $1.4 billion in 2017.

[ Here's the full FBI report in PDF. ]

The 2018 report shows how prevalent these crimes are. It also shows that the financial toll is substantial and a victim can be anyone who uses a connected device. said IC3 chief Donna Gregory in today's announcement.

The FBI's advice to any unlucky person who realizes they have been scammed online?

To improve the chances of a successful recovery, it is imperative that victims contact their bank immediately upon discovering a fraudulent transaction as well as report the crime to the IC3.

From the FBI's report:

In its annual Internet Crime Report, the FBI reports the IC3 received 351,936 complaints in 2018an average of more than 900 every day. The most frequently reported complaints were for non-payment/non-delivery scams, extortion, and personal data breaches. The most financially costly complaints involved business email compromise, romance or confidence fraud, and investment scams, which can include Ponzi and pyramid schemes.

Reports came in from every U.S. state and territory and involved victims of every age. There was a concentration of victims and financial losses, however, among individuals over the age of 50.

The 2018 report shows how prevalent these crimes are, said Donna Gregory, chief of the IC3. It also shows that the financial toll is substantial and a victim can be anyone who uses a connected device.