Business Exposure to Internet Crime | Burr & Forman

Each year, the Internet Crime Complaint Center (“IC3”) of the Federal Bureau of Investigation publishes its Internet Crime Report.  The IC3’s 2020 Internet Crime Report includes startling information about the continuing increase in internet crime.

• IC3 received from the American public 791,790 complaints of Internet crime in 2020, a 69% increase from 2019.
• The reported losses associated with those complaints exceeded $4.1 billion
• Business email compromise schemes were the most costly—19,369 complaints with adjusted losses of $1.8 billion.
• Phishing schemes were the most numerous—241,324 complaints with adjusted losses of $54 million.
• There were 2,474 ransomware incidents reported to IC3; the number of ransomware attacks is likely higher as many victims do not report them to IC3.

Perpetrators of internet crime schemes are operating from many foreign countries as well as the United States.  They seek easy targets, those businesses, and…

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