News FBI: The amount of losses from cybercrime in 2020 reached $4.2 billion

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In 2020, the FBI received 791,790 complaints about cyber and Internet crimes – a 69% increase over 2019.

According to the FBI's Internet Crime Report for 2020, last year was a record-breaking year for cybercrime damage.

According to the report, in 2020, the FBI received 791,790 complaints about cyber and Internet crimes - a 69% increase compared to 2019, when 467,361 complaints were registered. The amount of losses from such crimes has also increased. According to the report, last year the damage from cybercrime reached $4.2 billion – 20% more than in 2019 ($3.5 billion). Both figures, the number of complaints and total losses, have been rising for the fifth year in a row.

As in previous years, the most successful cybercrime groups are engaged in BEC attacks (business email compromise-business email compromise) and EAC attacks (email account compromise – email compromise). In 2020, they accounted for 43% of all funds lost as a result of the activities of cybercriminals – $1.8 billion.

BEC / EAC attacks are based on hacking a user's email account in order to use that user's identity to deceive others (employees or business partners) in order to send funds to the attacker's account.

In addition to the BEC / EAC attacks, the FBI also recorded a rapid increase in losses from attacks using ransomware. According to the report, the total amount of damage increased by 225% – from $8.9 million in 2019 to about $29.1 million in 2020.
 
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