How Cybercriminals Stole $1.8 Billion from Unsuspecting Older Americans in 2020
Katherine Skiba, 12 April 2021
Cybercrime complaints soared to a record high last year, when total losses surpassed $4.2 billion and losses to those 50 and older exceeded $1.8 billion, according to FBI data for 2020.
The nearly 792,000 in overall reports from all ages was a 69 percent jump from 2019. The increase was blamed on crooks who exploited the COVID-19 pandemic for financial gain. “In 2020, while the American public was focused on protecting our families from a global pandemic and helping others in need, cybercriminals took advantage of the opportunity to profit from our dependence on technology to go on an internet crime spree,” said the FBI’s Paul Abbate, a 25-year veteran who is the bureau’s deputy director, its second-highest official.
Cybercrime victims in their 50s had highest average loss last year
A record number of complaints to the FBI’s Internet Crime Complaint Center were made in 2020, the year the pandemic erupted.
Total complaints numbered nearly 792,000. Complainants were not required to state their ages, but more than 465,000 of them did. Here’s a look at their age ranges and total and average losses:
