The FBI's Internet Crime Complaint Center (IC3) released its annual report Wednesday, showing a sharp increase in cybercrime, both in quantity and cost in 2020.
Over the course of the year, the IC3 logged 791,000 complaints, more than a third of the total complaints over the past five years and a marked rise from the 463,000 complaints in 2019. Victims lost $4.2 billion over the course of the year, up from $3.5 billion in 2019.
For enterprise cybersecurity, the report was headlined by two key findings. One was the emergence of COVID-19 themed phishing targeting both organizations and individuals. Vendors had warned about the rise of COVID-19 scams throughout 2020. The second was the increase in the total cost of business email compromise (BEC) scams and email account compromise (EAC).
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