Business Losses Due to Internet Fraud Reach $500M

The Federal Bureau of Investigation (FBI) has released disturbing figures showing the increasing amount of loss incurred by businesses that become victims of Internet fraud. Data provided by the Internet Crime Complaint Center (IC3) demonstrates that reported losses totaled $560 million in 2009, more than doubling the $265 million accounted for in 2008. Registered complaints made to the IC3 rose 23% from year to year.

When considering this information, remember these numbers only account for those incidents that were registered with the IC3. Innumerable instances of unreported fraud and loss most certainly would inflate these findings.

These statistics demonstrate just one more reason why protecting yourself and your business should be priority one.

Thanks to Krebs on Security for bringing this topic to our attention.

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