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The agency recorded more than 1 million complaints over the year, with total losses reaching $20.8 billion—a 26% increase from 2024. Victims lost an average of $20,699, revealing the financial impact of increasingly complex cyber schemes.
The report highlights the global spread of cybercrime, with complaints filed from over 200 countries.
Leading the list of foreign sources were Canada with 7,479 complaints, India with 5,879, Japan with 5,764, United Kingdom with 4,106, and Germany with 3,056.
These countries reflect highly digitised economies where cybercrime reporting is more widespread and systems are more interconnected.
Africa’s rising cybercrime exposure
As fintech adoption, mobile banking, and cryptocurrency usage accelerate across the continent, cybercriminals are increasingly targeting African markets. Common threats include phishing attacks, business email compromise, identity theft, and investment scams—many of which exploit gaps in cybersecurity awareness and infrastructure.
The consequences are far-reaching. Beyond financial losses, cybercrime is eroding trust in digital financial systems, a critical pillar for economic inclusion and growth across Africa. If left unchecked, these risks could slow the pace of digital transformation and deter investment in the sector.
The France-based global financial crimes watchdog said it removed both nations following “successful on-site visits” that confirmed “positive progress” in addressing previously identified shortcomings within agreed timelines.
Explaining the decision, FATF President Elisa de Anda Madrazo described the removal as “a positive story for the continent of Africa.” She noted that South Africa strengthened its systems for detecting money laundering and terrorist financing, while Nigeria improved coordination among its agencies.
Nigeria and South Africa were initially added to the grey list in 2023.
As cyber threats evolve alongside emerging technologies such as artificial intelligence, Africa faces a pressing challenge: securing its digital economy while sustaining rapid innovation and growth.
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