X-Industry

Crypto took a major hit last year with losses exceeding $5.6 billion, mainly driven by investment fraud, tech support scams, and social engineering via government impersonation.  Latest findings published by the FBI’s Internet Crime Complaint Center (IC3), the product of almost 70,000 reports, marks this 45% rise as a new record high for the industry.  The US alone accounts for $4.8 billion of these reported cases, followed by the Cayman Islands, Mexico, Canada, the UK, India, and Australia.

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The FBI’s Internet Crime Complaint Center (IC3) published its 2019 Internet Crime Report which stated that cybercrime was behind individual and business losses of $3.5 billion, represented by 467,361 reported complaints received last year.  Under the subsection titled: “Reported Complaints,” many individuals and businesses did not report their losses and this dollar amount of losses is under reported.  IC3 says that it has received 4,883,231 complaints since its inception in May 2000, with an av