FBI’s 2017 Internet Crime Report reveals scale and cost of cyber crime

Between 2000 and 2017, the Internet Crime Complaint Center (IC3) received more than 4 million victim complaints. The agency analyzes these complaints and makes sure law enforcement agencies are informed at all levels for possible investigation. The IC3 also delves deeper into the data to uncover and report on cyber crime trends.

In early May, the IC3 released its 2017 Internet Crime Report to raise public awareness about Internet fraud and encourage people to report cyber crime. The agency received more than 300,000 complaints last year, which resulted in losses of more than $1.4 billion.

2017 Internet crime in numbers

The states with the highest number of victims were:

  • California: 41,974
  • Florida: 21,887
  • Texas: 21,852
  • New York: 17,622
  • Pennsylvania: 11,348

The state with the highest losses was California at more than $214 million, followed by Texas ($115 million), Florida (more than $110 million), New York (nearly $89 million), and Arizona (just over $59 million).

Top cyber crimes

The top two cyber crimes in 2017 – as they were in 2016 – were non-payment/non-delivery (84,079 victims) and personal data breaches (30,904 victims). Phishing was third with 25,344 victims.

The number of ransomware-related complaints in 2017 was actually down on 2016, from 2,673 to 1,783. However, Ilia Kolochenko, CEO and founder of web security company High-Tech Bridge, has a problem with this statistic.

According to many different reports, both the quality and quantity of ransomware is steadily growing (omitting minor fluctuations), so the fact that victims are reporting fewer cases to the FBI may simply mean that they are disappointed by the FBI’s inability to help recover the data or at least prosecute offenders. People are losing their confidence in government and law enforcement agencies to protect them from cybercriminals.

Kolochenko also warns that government agencies may not be capable of protecting citizens in the digital space unless they take steps to improve.

Protect your organization’s private data or face financial losses

As you can see, a data breach can be costly for your organization. Mitigate information security risk and comply with data security regulations through the implementation of an information security management system (ISMS). The international information security standard ISO 27001 describes best practice for an ISMS.

A good place to start is our fully certificated, practitioner-led ISO27001 Certified ISMS Lead Implementer Online course. Through live, real-time training sessions, you will discover the nine key steps involved in planning, implementing, and maintaining an ISO 27001-compliant ISMS.

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