Connect with us

News

Losses Incurred by Americans to Various Online Scams in 2022, Estimated at $10.3 Billion

The most reported scams were phishing expeditions and large-scale spam operations aimed at getting unsuspecting individuals’ passwords to their online banking apps, PayPal accounts, and the likes.

Published

on

Cyber Security - Investors King

A report issued by the FBI’s Internet Crime Complaint Center (IC3) revealed that losses incurred by Americans to various online scams stood at an estimated $10.3 billion in 2022.

This represents an increase of $4.4bn increase when compared to the $5.9 billion reported in 2021.

According to the internet crimes 2022 report, IC3 received an average of 2,175 complaints daily and 651,800 plus average daily complaints from 2016 to 2021. Reports disclosed that the IC3 has recorded more than 7.3 million complaints since its inception in 2000.

The most reported scams were phishing expeditions and large-scale spam operations aimed at getting unsuspecting individuals’ passwords to their online banking apps, PayPal accounts, and the like.

This accounted for 300,497 victims’ complaints that resulted in over $52 million in losses while data breaches and non-payment scams were the next most common interest scale in 2022, responsible for 58,859 and 51,679 complaints, respectively.

Call center scams, which were reported to primarily emanate from India, saw over $1 billion lost by victims. Call Centers mainly targeted the elderly, almost half of the victims report to be over 60 (46%) and experience 69% of the losses of over $724 million.

Also, Ransomware, a type of malicious software designed to block access to a computer system until a sum of money is paid, saw several Americans impacted, which the FBI disclosed to have received 2,385 complaints with incurred losses of more than $34.3 million.

The FBI’s Internet Crime Complaint Center (IC3) disclosed that it has seen an increase in an additional extortion tactic used to facilitate ransomware. The threat actors pressure victims to pay by threatening to publish the stolen data if they do not pay the ransom.

By far, the most heavily targeted industry by ransomware attacks was the healthcare industry, followed by critical manufacturing and government. The FBI, therefore, warned individuals to desist from paying a ransom to scammers, as paying them may embolden adversaries to target additional organizations, and encourage other criminal actors to engage in the distribution of ransomware.

Talking about states in the U.S., California recorded the highest number of individuals who fell prey to internet scams. Next was Florida where 42,792 people lost more than a million, and Texas which comes third on the list where over 38,000 people lost $763 million. Arizona recorded the least amount of people who lost money to online scams with only $241 million recorded.

In the 2022 online scams report, victims under the age of 20 collectively lost $210 million, while the most money lost by victims over the age of 60 was $3.1 million. Reports disclosed that the FBI had a 73% success rate in retrieving stolen funds back to victims, Investors King understands.

Continue Reading
Comments

Education

JAMB Releases 36,540 Withheld UTME Results, Dismisses Cyber Breach Claims

Published

on

The Joint Admission and Matriculation Board (JAMB) has quelled concerns over the integrity of the Unified Tertiary Matriculation Examination (UTME) results by releasing an additional 36,540 previously withheld scores.

This move follows earlier revelations of withheld results and assertions of a cyber security breach.

Fabian Benjamin, the spokesperson for JAMB, confirmed the release of these results in a statement issued late Tuesday in Abuja.

This latest batch of released scores, when combined with the 531 previously unveiled, brings the total number of results made public to 1,879,437.

Benjamin took the opportunity to address circulating rumors regarding the security of the UTME results.

He categorically dismissed claims of a cyber security breach, saying that the examination outcomes remain intact and securely stored.

He stressed that the results are not stored in any cloud system and thus cannot be compromised by external entities.

At the time of the UTME release, JAMB had disclosed that certain results were withheld pending further investigation.

Subsequently, 531 of these results were recently unveiled with the remainder still under scrutiny.

Benjamin explained that any candidates implicated in examination malpractice are undergoing thorough investigation.

The examination board intends to meticulously review footage from CCTV cameras installed across all accredited centers to ascertain each candidate’s involvement.

Benjamin urged the public to remain vigilant against misinformation originating from sources not affiliated with JAMB.

He attributed the discrepancies in minimum admissible scores to variations among tertiary institutions. Some institutions, he noted, proposed lower minimum scores than others, resulting in varying benchmarks.

Benjamin clarified that these benchmarks are determined collectively by all Heads of Institutions during the annual Policy Meeting on Admissions, ensuring uniformity across the country.

Also, Benjamin cautioned religious organizations against overstepping their designated roles.

He warned against the dissemination of false information to governmental bodies for personal gain.

Continue Reading

Travel

British Airways Owner IAG Prepares for Summer Surge Amid High Travel Demand

Published

on

british-airways

As the world gradually emerges from the grip of the pandemic, the travel industry is witnessing a resurgence in demand with British Airways owner IAG SA gearing up for a busy summer season.

Despite lingering challenges, the airline conglomerate remains optimistic about the outlook, citing strong demand for travel within Europe and across the Atlantic.

In a recent stock exchange filing, IAG disclosed an adjusted operating profit of €68 million ($73.3 million) for the three months ending March.

According to Chief Executive Officer Luis Gallego, the group’s core markets, including the North Atlantic, South Atlantic, and intra-Europe routes, have shown robust performance, positioning them well for the upcoming peak travel period.

With vaccination rates increasing and travel restrictions easing in many parts of the world, consumers are eager to resume travel plans, fueling the surge in demand.

However, the road ahead is not without its challenges. While travel within Europe and across the Atlantic remains strong, other regions present a more complex operating environment.

The ongoing conflict in the Middle East has dampened demand for certain destinations, while airspace restrictions resulting from geopolitical tensions, such as the Russian invasion of Ukraine, have disrupted flight routes to East Asia.

Despite these hurdles, IAG remains resilient, banking on the strength of its core markets and the performance of its brands to weather the storm.

The company’s strategic positioning and proactive measures to adapt to changing circumstances have positioned it to capitalize on the rebound in travel demand.

As the summer season approaches, IAG is focused on ensuring operational readiness to meet the surge in passenger numbers.

With travelers eager to reconnect with loved ones, explore new destinations, and embark on long-awaited vacations, the airline group stands ready to facilitate safe and seamless travel experiences.

As vaccination campaigns progress and travel sentiment rebounds, IAG’s proactive approach and strategic investments position it as a key player in the aviation industry’s recovery journey. With optimism on the horizon, the company remains committed to delivering exceptional service and fostering a seamless travel experience for passengers worldwide.

Continue Reading

News

Israeli Troops Take Control of Rafah Border Crossing Amidst Ceasefire Talks

Published

on

Israeli troops took control of the Rafah border-crossing area in Gaza on Tuesday morning, with Hamas saying all aid flows from Egypt had stopped.

The army has halted “the movement of people and aid completely,” the Hamas-run crossing authority said in a statement. Soldiers replaced Palestinian flags with Israeli ones.

It’s the first time Israel’s army has moved into the area since the war with Hamas began in October.

Israeli Military Tells About 100,000 People to Leave Eastern Rafah

Palestinians sheltering in Rafah were told Monday to move to an “expanded humanitarian area”.

The border is the main entry point for aid into Gaza, and the Palestinian territory’s only crossing aside from those with Israel. The US has been urging Israel for weeks to allow more food and other supplies into Gaza, parts of which the United Nations says are on the verge of famine.

The movement of troops came a day after Israel told residents in parts of eastern Rafah to leave immediately ahead of a possible attack on the city.

Most Arab and many European states have said Israel should not attack Rafah, fearing it would cause mass casualties. Prime Minister Benjamin Netanyahu says Rafah is the last bastion of Hamas, with about 5,000 to 8,000 of its fighters and senior leaders lodged in the city, as well as many Israeli hostages.

Cease-fire talks between the two sides continue to drag. Hamas said on Monday night it had accepted a proposal from mediators Egypt and Qatar. Israel rejected it, saying it contained demands the Jewish state cannot accept.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending