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U.S. cybercrime trends and developments revealed in FBI IC3 Report – 2022

U.S. cybercrime trends and developments revealed in FBI IC3 Report – 2022

August 14th, 2023

The U.S. Federal Bureau of Investigation (FBI) recently released the 2022 Internet Crime Report, shedding light on the data, evolution, and trends of internet crime and its impact on citizens and businesses in the country.

As is customary, we find it worthwhile to share this data for analysis, examining its implications on the realities of other countries, particularly in Latin America, where precise data is not always readily available. 

In 2022, IC3 received 800,944 complaints, marking a 5% decrease from the previous year. However, it’s crucial to note that the total potential loss has significantly increased, rising from $6.9 billion in 2021 to over $10.2 billion in 2022.

Claims and losses in the USA over the last five years reveal a trend of increasing losses despite a decrease in claims.

Addressing key areas of concern, the report outlines threats in 2022, emphasizing that Business Email Compromise (BEC) remains a prevalent threat with staggering losses of $2.7 billion. Particularly, criminals are increasingly focusing on cross-border transactions within this  context.

One noteworthy aspect that requires special analysis, especially in terms of its extrapolation to other Latin American countries, is the Internet Crime Complaint Center’s (IC3) Recovery Asset Team (RAT). The RAT has played a crucial role in aiding cybercrime victims.

In 2022, the ARP implemented the Financial Fraud Kill Chain (FFKC) on 2,838 Business Email Compromise (BEC) claims, resulting in potential losses exceeding $590 million. Approximately $433 million was subjected to monetary holds, showcasing an impressive 73% success rate.

The ARP’s success in freezing funds and recovering assets for victims underscores the effectiveness of collaborative efforts between financial institutions, FBI field offices, and IC3 in the U.S.

Datasec remains committed to foster collaboration with organizations and individuals in the ongoing battle against cyber threats. 

By leveraging data from the Internet Crime Report 2022, we continuously refine our strategies and solutions to protect our customers and the broader digital community.

You can find the complete report here.