$16.6 billion. That’s how much Americans lost to cybercrime in 2024, according to the FBI’s Internet Crime Complaint Center (IC3).
Related Page: PROTECTING YOURSELF FROM COMMON SCAMS IN 2025
Let that sink in for a second.
That’s more than the GDP of some countries. More than enough to fund a few space missions. More than any of us would like to see vanish into the digital ether.
And it’s not just massive corporations or reckless social media users footing the bill. Everyday people like you and me are getting hit. Hard. Retirees losing their life savings. Small business owners getting wiped out by fake invoices. Families getting tricked into wiring their down payment to scammers posing as realtors.
This isn’t fear-mongering. It’s a wake-up call.
The FBI’s 2024 IC3 report isn’t just a government document filled with cold numbers and bureaucratic lingo. It’s a stark reminder that cybercrime has evolved from a distant, abstract threat to something much more personal. It’s in our inboxes, our phones, our financial transactions.
So what can you actually do to protect yourself? How do you avoid becoming part of next year’s $16 billion stat line?
In this article, I’ll walk you through the key takeaways from the FBI’s latest report and translate them into plain-English action steps that you can take today. No technical jargon. No fluff. Just what you need to know to stay safe.
Because cybercrime isn’t going away. But you can make yourself a much harder target.
One of the most chilling takeaways from the report: Americans over 60 lost more than $4.8 billion to online fraud in 2024 alone.
From fake tech support calls to bogus romance scams, seniors are facing a full-court press from online predators. Many victims don’t even realize they’ve been targeted until it’s too late.
Cryptocurrency-related crimes accounted for over $9.3 billion in losses—a 66% increase from 2023. And believe it or not, seniors (60+) were the most targeted age group.
Why? Because the learning curve for crypto is steep, and scammers exploit that uncertainty.
These scams typically involve a hacker impersonating a trusted business contact to trick you into wiring money to a fraudulent account. They cost Americans $2.7 billion last year.
Think it can’t happen to you? BEC scams frequently target real estate closings, small business transactions, and even school districts.
Over $1.4 billion was lost to tech support scams, and most victims were seniors.
Scammers pose as Microsoft or Apple technicians and convince victims their computer is infected—then ask for remote access or payment to "fix" the problem.
Time is critical. If you suspect you've been targeted:
The FBI also has a Recovery Asset Team that helps stop wire transfers if they’re notified in time. In 2024, they helped freeze over $560 million in fraudulent transactions.
Cybercrime is now part of our everyday reality. But awareness is your first line of defense.
By understanding the trends and staying skeptical of unsolicited communications—especially those involving money, urgency, or secrecy—you can avoid becoming a victim.
The scammers are getting more sophisticated. So we have to get smarter.
Read the full FBI report here if you want to dive deeper.
And if you have questions about financial security or want to learn how our team at Liberty Savings Bank can help protect your money, reach out. We’re here for you.