A new analysis of online financial crime data shows wide variation in how states are affected by scams, fraud, and digital theft. According to 2024 figures compiled from FBI reports, Mississippi ranks as the safest state, followed by Texas, Minnesota, Alabama, and South Dakota. Each of these states reported low victim counts, lower financial losses per resident, or smaller increases in scam activity over recent years.
Mississippi had the fewest victims per million people, and its total financial losses remained among the lowest nationwide. Even with fewer cybercrime laws in place, it showed relative stability, which may suggest that a lower rate of targeting plays a role. Texas performed well despite its population size, aided by a stronger legal framework. Minnesota’s ranking came from a balance of low victim numbers and strong legislative presence.
High Losses Concentrated in D.C., Iowa, and Nevada
Washington, D.C. stood out with the highest per-capita losses in the country. Between 2022 and 2024, its total financial damages rose sharply, reaching over $400 million when adjusted for population. Most of the losses were linked to high-value scams, including investment fraud and business email compromise. Iowa also showed a steep rise in both victims and losses. Nevada experienced similarly high numbers, driven by identity theft and phishing attacks.
In these states, legislative measures have been slow to match the growing risk. D.C. and Iowa, in particular, have limited policy protections in place. Nevada’s high urban population and large number of visitors may also contribute to its increased exposure.
Rising Trend in Cybercrime Across the Country
The report confirms a national rise in financial cybercrime. Between 2022 and 2024, most states recorded double-digit growth in either victim count or total losses. In some cases, both increased. The overall impact has expanded rapidly, with total U.S. financial losses from online scams more than doubling in just two years.
Many scams follow familiar formats. Phishing remains the most widespread. Tech support scams, SIM swapping, and investment fraud continue to cause substantial damage. Some states report high financial losses even with fewer victims, which points to the growing value of individual attacks.
Not All Safe States Have Strong Cybercrime Laws
Legislation plays a role, but its effect varies. Several top-ranked states, including Mississippi and South Dakota, have minimal cybercrime laws. Still, they recorded relatively low exposure. On the other hand, some states with more active legislative efforts still reported high losses. Illinois, for example, had more cybersecurity rules than average but did not rank among the safer states.
This gap between laws and outcomes suggests that other factors, such as demographic patterns, scammer focus, or digital awareness, may influence risk more than legislation alone.
Five Key Metrics Used for State Rankings
The ranking system used five measures. Victim count and total financial losses each made up 30 percent of the overall score. The percentage change in those two figures from 2022 to 2024 accounted for another 30 percent. The number of state-level cybercrime laws contributed the final 10 percent.
While legislation was included, it carried less weight because many laws do not directly address financial scams. The intent was to reflect actual exposure and risk, not just legal preparedness.
Most Common Forms of Financial Cybercrime
The report categorized a wide range of scams. These included phishing, data breaches, SIM swap fraud, credit card theft, business email compromise, and ransomware. Confidence scams, like romance fraud and fake job offers, were also common. In many cases, high-value scams concentrated in fewer but more severe incidents caused larger losses.
States with higher tourist traffic or dense urban centers appeared to attract more of these schemes. Fraud involving fake support services, lottery scams, and overpayment traps were especially active in Nevada, Arizona, and Florida.
Arizona and Oregon Among the Fastest-Rising Risk States
Arizona showed a high number of victims and significant financial losses in 2024. Its rate of legislative action remained low, despite its exposure. Oregon saw the sharpest increase in losses of any state, with a jump of over 400 percent in two years. These changes pushed both states further down the safety rankings.
Oregon, in particular, experienced a rise in investment-related scams and phishing attacks. This was coupled with a lack of robust legal protections, suggesting a mismatch between the scale of the problem and available countermeasures.
Report Reflects Ongoing Digital Threats
Although state-level variation is significant, the broader trend is clear. Financial cybercrime continues to spread across the country. While some areas show signs of control or resilience, others remain vulnerable. The study points to a need for coordinated efforts that combine legal tools, public awareness, and individual digital safety habits.
No state is fully immune. Even in places with low current exposure, changing attack patterns could raise future risk. For now, a mix of laws, education, and technology use appears to make the most difference.
H/T: Cloudwards.
Notes: This post was edited/created using GenAI tools.
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