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FBI’s 2024 Internet Crime Report reveals a 33% rise in cybercrime losses to $16.6bn, with cryptocurrency fraud surging 66% to $9.3bn, driven by investment scams, extortion, and ATM fraud

by Jyotsna Bucktowar | Apr 24, 2025

The report highlights a surge in two major threats: extortion and phishing, both of which continue to target individuals and organizations across the country. In particular, Alabama has been identified as one of the states with high vulnerability to cybercrime,...

FBI warns that criminals are using generative AI to enhance fraud schemes, making them more believable and harder to detect

by Jyotsna Bucktowar | Dec 13, 2024

Generative AI reduces the time and effort criminals must expend to deceive their targets. Generative AI takes what it has learned from examples input by a user and synthesizes something entirely new based on that information. These tools assist with content creation...

US DoJ and FBI seize more than $6m in alleged proceeds of a crypto-confidence scheme

by Jyotsna Bucktowar | Sep 26, 2024

Cryptocurrency confidence investment schemes begin by criminals contacting potential victims through seemingly misdirected text messages, dating applications, or professional meetup or investment groups. Next, using various means of manipulation, the criminal gains...

FBI’s 2023 Cryptocurrency Fraud Report reveals over $5.6 bn in reported losses due to cryptocurrency fraud, detailing various types of fraud such as scams and Ponzi schemes

by AdrianaAMLP | Sep 13, 2024

In 2023, the FBI’s Internet Crime Complaint Center received more than 69,000 complaints from the public regarding cyber-enabled crime and financial fraud involving the use of cryptocurrency, with over $5.6 billion in reported losses. Criminal actors exploit...

Reuters: The FBI reports that losses from crypto scams increased by 45% in 2023

by Jyotsna Bucktowar | Sep 9, 2024

The FBI’s Internet Crime Complaint Center reports that the rising popularity of cryptocurrencies like bitcoin and ether, driven by surging prices and new exchange-traded funds, has also attracted more criminal activity. Although blockchain transactions are...
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