Americans Are Estimated to Lose $5.6 Billion to Internet Crime by the End of 2021

This is not chump change.

Cyber crime is now a big business enterprise. Losses from all forms of cyber crime are growing as more and more individuals and organizations fall victim to various schemes to defraud them of their money.

From a news release:

“According to an analysis by the Atlas VPN team, Americans are estimated to lose more than $5 billion to internet crime by the end of 2021.

“The report shows that:

  • “Americans are estimated to lose $5.6 billion to internet crime by the end of 2021.
  • “Cybercrime losses are expected to increase from 4.2 billion in 2020 by 32% in 2021.
  • “Compared to 2012, when cybercrime losses were 525.4 million, they are predicted to grow tenfold and reach record levels.  
  • “By the end of this year, Americans will have lost 22.1 billion to cybercriminals since 2012.
  • “The number of internet users in the US is estimated to increase by 1%, from 284.05 million in 2020 to 286.98 million by the end of 2021.

“To view the full report, please click here.
 
“The first part of the report discusses the projections of internet crime monetary losses in the US for 2021. The second part of the report covers the reasons for the increase in cybercrime losses in the US.”
Eric Holdeman is a nationally known emergency manager. He has worked in emergency management at the federal, state and local government levels. Today he serves as the Director, Center for Regional Disaster Resilience (CRDR), which is part of the Pacific Northwest Economic Region (PNWER). The focus for his work there is engaging the public and private sectors to work collaboratively on issues of common interest, regionally and cross jurisdictionally.
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