The FBI Ranks Nevada #2 In Ransomware Crimes

The FBI Ranks Nevada #2 In Ransomware Crimes

By: Professor Mack Jackson Jr

The 2023 Internet Crime Report, published by the FBI’s Internet Crime Complaint Center (IC3), presents a detailed examination of cybercrime in the United States, revealing significant insights and trends that underline online threats' evolving and expanding nature. With a record-breaking 880,418 complaints registered by the American public, the report underscores a nearly 10% increase in incidents over the previous year, alongside a striking 22% rise in financial damages, totaling over $12.5 billion. This report's marked upsurge in frequency and economic impact points to the pressing threat posed by cybercriminals who continue to find innovative ways to exploit digital platforms for fraudulent activities.

Among the various types of cybercrimes, investment scams emerged as the most financially draining, experiencing a 38% jump in losses from the previous year, amounting to $4.57 billion. Business Email Compromise (BEC) schemes also persisted as a significant threat, with 21,489 complaints resulting in $2.9 billion in losses. The report illuminates the tactical shift by cybercriminals towards leveraging cryptocurrency platforms and third-party payment processors, highlighting the speed and anonymity these digital avenues offer for the illicit…