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The alarming rise of cyber scams
In 2024, cyber scams have reached unprecedented levels, with digital fraudsters stealing a staggering $16 billion from Americans. This marks a significant 33% increase from the previous year, as reported by the FBI’s annual Internet Crime Report.
The report highlights the growing threat of online extortion, phishing scams, and other forms of e-crime that are increasingly targeting unsuspecting individuals.
Who is most affected?
Interestingly, the data reveals that Californians are the most affected, losing an astonishing $2.5 billion to these scams.
This figure is $1.2 billion more than Texas, the second-highest state in losses. With a per-capita loss of $6.4 million per 100,000 citizens, California ranks fourth overall in terms of losses, trailing behind Washington, DC, Wyoming, and Nevada.
In contrast, states like Texas, Florida, and New York reported losses of around $4.5 million per 100,000 citizens.
Understanding the types of scams
The FBI received over 850,000 cybercrime complaints last year, with elderly individuals being the most common victims.
Alarmingly, nearly 30% of total monetary losses were attributed to people over 60. The most prevalent scam was phishing/spoofing, accounting for around 193,000 complaints. This type of scam involves impersonating a trusted entity to trick individuals into revealing personal information.
Common phishing tactics include fake toll bills, package delivery notices, and fraudulent billing statements.
Other notable scams include extortion, with 86,415 complaints, personal data breaches at 64,882 complaints, and payment/non-delivery scams, which saw 49,572 complaints.
These scams often involve individuals paying for items they never receive or failing to receive payment for goods they have sold.
How to stay safe online
To protect yourself from falling victim to these scams, the FBI recommends several precautionary measures. Always verify the email address or phone number behind unsolicited messages and avoid clicking on links from unknown sources. Additionally, using robust anti-virus software and creating varied, strong passwords that are updated regularly can significantly enhance your online security.
Moreover, never wire money directly to a seller or use gift cards for payments. Always conduct thorough research on any business before making a financial commitment, and ensure you check the URL for authenticity. By staying informed and vigilant, you can help safeguard yourself against the rising tide of cyber scams.
