More Than $3.5 Billion Was Lost to Cyber Crime Globally in 2019

[Jack prabha]

Alright, let’s take a one-year look at global cybercrime costs. Research from the same FBI IC3 2019 Internet Crime Report indicates that more than $3.5 billion was reported lost as the result of cyber crimes in 2019 alone. In that period, the IC3 report states that a total of 467,351 incidents were reported by businesses and individuals — of which, the most common types of crime with the highest reported losses include:

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BEC/EAC scams (more than $1.7 billion)
Confidence/romance fraud (more than $475 million), and
Spoofing (more than $300 million).
It’s important to note that these cyber security statistics only include the number of reported attacks and losses. This means that these cyber security stats don’t include the attacks and losses that resulted in unreported attacks. And considering that confidence/romance fraud scams often go unreported by victims, this means that the numbers are thought to be grossly underreported.