Each week we take a look at the most recent and interesting events and trends related to data security and privacy. Today we’re going to take a stroll through the FBI’s annual report on cybercrime. It’s been 21 years since the Bureau’s Internet Crime Complaint Center or IC3 was formed to track cyber-crime.

Show Notes

According to the FBI’s annual report on cybercrime, in 2016, nearly 300,000 cybercrime reports were filed with the FBI. The total impact of the cybercrimes was $1.5 billion.  

In late 2020, the number of crimes reported more than doubled to almost 800,000. The rate of loss skyrocketed to $4.2 billion, a 180 percent increase. 

However, despite the cybercrime increase, the IC3 Recovery Asset Team scored an 82 percent success rate in helping victims recover money transferred to criminals. Nearly $380 million was restored to victims of cybercrime. 

To learn about recent data breaches, consumers and businesses should visit the ITRC’s new data breach tracking tool, notified.  

For more information, or if someone believes they are the victim of identity theft, consumers can contact the ITRC toll-free at 888.400.5530 or via live-chat on the company website www.idtheftcenter.org.  

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