How cybercrime losses have more than doubled in 2 years | #cybercrime | #infosec

There’s been a surge in the cybercrime business in a post-pandemic landscape.

Cybercrime losses more than doubled from 2020 to 2022, according to the FBI’s 2022 Internet Crime Report.

While the number of complaints remained mostly constant (652,000 annually on average), the overall volume of losses soared. The average loss per complaint jumped from $5,300 in 2020 to nearly $12,900 in 2022.

The IC3 report found phishing as the most commonly reported cybercrime. In this scheme, an attacker sends an email that appears to be from a real person or organization, but a link in the message takes the recipient—if they are unsuspecting enough to click on it—to a site that also appears legitimate but is not. On that site, the victim is tricked into handing over their login, financial, or other personal information. The email or text could appear to be from an employer, a bank, a friend, or an organization the user trusts, using an email address or other header information that may be one character or digit off from a legitimate email address.

Using data from the FBI’s 2022 Internet Crime Report, Drata analyzed the rapid increase in losses reported by victims of cybercrime. The data only includes cyberattacks that were reported to the FBI’s Internet Crime Complaint Center.

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National Cyber Security