FBI: Cybercrime Losses Surpassed $16.6 Billion in 2024

Reported cybercrime losses surpassed $16.6 billion in 2024, the latest annual report from the FBI’s Internet Crime Complaint Center (IC3) shows.

The reported losses increased 33% compared to 2023, but the number of complaints received by the IC3 was slightly lower in 2024, at nearly 860,000 (compared to over 880,000 the year before). Only 256,000 of last year’s complaints disclosed an actual loss, reads FBI’s report (PDF).

As Exabeam senior director Steve Povolny pointed out in an emailed comment, the reported losses show that cybercrime is no longer a threat, but a “thriving underground economy”.

“At $16.6 billion, cybercrime in 2024 out-earned the US box office, the entire U.S. airline industry’s net profits, and the U.S. recorded music market — combined. Hackers aren’t just stealing data; they’re surpassing the financial scale of major, everyday industries,” Povolny said.

Over ...