FBI has published their 2024 Internet Crime Complaint Center (IC3) report that reveals alarming statistics that underscore the growing threat of cybercrime. Total reported losses reached a record-breaking $16.6 billion, a 33% increase from 2023, with cyber-enabled fraud accounting for 83% of these losses. Investment fraud, particularly in cryptocurrency, led the charge, followed by Business Email Compromise (BEC) scams and tech support fraud. Notably, individuals aged 60 and older were the hardest hit, filing 147,127 complaints and losing nearly $4.9 billion. In terms of enforcement, the FBI, in collaboration with international agencies, made over 215 arrests, a significant jump from previous years. States like California, Texas, and Florida saw the highest number of complaints and financial losses. Ransomware continued to rise, with 67 new variants identified and complaints increasing by 9%. Cryptocurrency-related fraud also surged, with cryptocurrency ATMs and kiosks becoming central to many scams. Extortion schemes, including sextortion, rose sharply, contributing to a 59% increase in related complaints. Critical infrastructure sectors were also heavily targeted, with over 4,800 organizations reporting cyber threats, mostly in the form of ransomware and data breaches. In response, the FBI’s proactive efforts, such as Operation Level Up, helped prevent over $800 million in ransom payments, providing a much-needed boost to cybersecurity efforts. These numbers paint a troubling picture of the cybercrime landscape, with both individuals and organizations continuing to face escalating threats. For more information, refer to the FBI Internet Crime Report.