The Federal Bureau of Investigation (FBI) recently released a report that revealed a record-breaking $10.3 billion in losses to online scams in 2022. This is the highest amount of losses ever reported in a single year.
The report found that the majority of losses were due to business email compromise (BEC) scams, which involve impersonating a company executive and sending fraudulent emails to employees requesting wire transfers. BEC scams accounted for $3.1 billion in losses, up from $1.8 billion in 2021.
Other common scams included romance scams, where scammers pretend to be in a romantic relationship with victims in order to get money, and tech support scams, where scammers pose as tech support representatives and try to get victims to pay for unnecessary services. These two scams accounted for $1.9 billion and $1.4 billion in losses respectively.
The FBI also noted that the number of reported cases of online scams has been steadily increasing over the past few years. In 2019, there were over 300,000 reported cases of online scams, and in 2020, that number jumped to over 400,000.
The FBI has warned that these numbers are likely to continue to rise as more people become comfortable with conducting business online and as scammers become more sophisticated in their tactics. The agency has urged people to be vigilant when engaging in online activities and to be wary of any suspicious emails or requests for money.
The FBI has also recommended that people use strong passwords and two-factor authentication when possible, as well as not clicking on links or downloading attachments from unknown sources. Additionally, people should be sure to keep their antivirus software up-to-date and to report any suspicious activity to the FBI’s Internet Crime Complaint Center.
The FBI’s report serves as a stark reminder of the dangers of online scams and the importance of taking steps to protect yourself from them. With the right precautions, you can help ensure that you don’t become a victim of one of these costly scams.
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