FBI: Cybercrime Victims Reported Losses of $4.2 Billion in 2020

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The number of complaints received by the FBI in 2020 increased significantly compared to the previous year, when it got roughly 467,000 complaints. The total reported losses for 2019 were approximately $3.5 billion. Since 2016, reported losses total $13.3 billion, the agency said.

The FBI said its Recovery Asset Team, which it established in 2018 to help victims recover their money from banks, had a success rate of 82% last year, managing to get banks to freeze $380 million.

In 2020, the law enforcement agency received 240,000 complaints related to phishing, vishing or smishing. Many complaints, more than 108,000, were related to non-payment or non-delivery schemes. Other types of crimes with many complaints include extortion (76,000), personal data breach (45,000), identity theft (43,000), and spoofing (28,000). The smallest number of complaints was related to hacktivists, with only 52 complaints.

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