Web of lies
Today, so much of our lives are online that perhaps it's no surprise that criminals are increasingly targeting us in the digital world as well as the physical. Indeed, in the FBI’s latest annual Internet Crime Report, it was estimated that American consumers and businesses lost a record $12.5bn to internet crimes last year, a 22% jump from 2022, with losses related to investment scams in particular rising, up 38% in 2023.
Big phish
While total monetary losses related to cybercrimes have roughly tripled since 2020, rising by some $8.3bn, the number of associated complaints has remained relatively similar, rising by only 11% in 2023, suggesting that scammers are managing to steal more per attack. This may in part be explained by the shift away from more personal targeted scams towards finance- and tech-related schemes — with cryptocurrency losses alone growing by 53% in the past year.
But, even if you manage to avoid getting your email, phone, or bank account hacked, you may end up being part of a mass breach which — given the proliferation of data into everything from spending habits to genetics — can have varied consequences, with highly publicized recent attacks like those on 23andMe affecting millions of people.
