The data for the analysis is based on reports submitted through the official Federal Trade Commission websites – IdentityTheft.gov and ReportFraud.ftc.gov. Citizens can get help by receiving personal identity theft recovery plans.
Regarding monetary damages – the FTC does not resolve the allegations, but it does disseminate the information to over 3,000 law enforcement agencies across the United States for further investigation.
The analysis reveals that cybercrime damages sky-rocketed by 82.91% in 2021 compared to last year. To be exact, people lost $1.58 billion more (yes, billion) this year than they did in the same period in 2020.