In its 25th annual Internet Crime Report, the FBI's Internet Crime Complaint Center (IC3) has disclosed a staggering $16.6 billion in cybercrime-related losses for 2024 — a 33% increase from the previous year and the highest figure ever recorded by the agency.
With nearly 860,000 complaints logged, the report offers a stark reminder of the evolving digital threat landscape, where cyber-enabled fraud and ransomware dominate the threat matrix.
The 2024 report, compiled by the IC3 in collaboration with domestic and international law enforcement and private sector entities, is the most comprehensive snapshot to date of U.S. cybercrime. IC3, which was launched in 2000, serves as the FBI's centralized platform for receiving cybercrime complaints from individuals and businesses across the country. The platform now processes over 2,000 complaints daily — a far cry from the 2,000 monthly complaints it managed in its first year.
FBI
The report highlights the explosive growth of cyber-enabled fraud, which accounted for 83% of all reported losses in 2024, totaling $13.7 billion across 334,000 complaints. Investment scams — often cryptocurrency-based — were the top crime category by financial loss, draining victims of over $6.5 billion. Tech support scams ($1.46 billion), personal data breaches ($1.45 billion), and business email compromise (BEC) schemes ($2.77 billion) also ranked among the most financially damaging.
FBI
Elder fraud was a critical focus in this year's report, as individuals aged 60 and older submitted 147,127 complaints — an increase of 46% from 2023 — and suffered $4.88 billion in losses. This demographic was also the most affected by cryptocurrency-related fraud, accounting for over $2.8 billion in losses. A particularly pernicious scheme identified in the report is the so-called “pig butchering” scam, where fraudsters groom victims over time through online relationships before enticing them into fake crypto investments.
FBI
Ransomware remained a potent threat in 2024, particularly against critical infrastructure sectors. While only $12.4 million in ransomware-related losses were reported (a figure known to be artificially low due to underreporting), complaints rose 9% year-over-year. The most prevalent ransomware variants included Akira, LockBit, and RansomHub. The FBI noted the discovery of 67 new ransomware strains in 2024 alone, signaling a continuously shifting threat landscape.
The IC3 Recovery Asset Team (RAT), established in 2018, continued its mission of intercepting fraudulent financial transactions. In 2024, the team successfully froze $561.6 million across 3,020 cases — two-thirds of the total funds targeted for recovery. These efforts were primarily linked to BEC schemes, but also extended to tech support scams and data breaches. Notable recoveries included the freezing of nearly $1 million in a real estate transaction scam in the U.S. and over $5 million in an international BEC case intercepted via cooperation with Singaporean authorities.
The FBI's Operation Level Up, launched in January 2024, was another key initiative aimed at combating crypto investment fraud. It identified over 4,300 victims, most of whom were unaware they were being defrauded and saved an estimated $285 million in potential losses. In parallel, joint operations with the Indian Central Bureau of Investigation dismantled scam call centers, resulting in 215 arrests — up 700% from the previous year.
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