With Data Privacy Awareness Week underway, there's a renewed focus on the importance of securing data.
The FBI's Internet Crime Complaint Center (IC3) report sheds light on the growing threat of cybercrime, both nationally and within North Carolina. The state ranks among the top 15 in the U.S. for cybercrime complaints, highlighting significant local challenges.
National Cybercrime Trends
The report paints a grim picture of the national cybercrime landscape, with over 880,000 complaints filed and a staggering $12.5 billion in reported losses in 2023. Among the most common crimes were phishing attacks, non-payment/non-delivery scams, and personal data breaches. Business Email Compromise (BEC) scams and cryptocurrency-related fraud continue to account for a large share of financial losses, highlighting the sophisticated tactics employed by cybercriminals.
Challenges in North Carolina
In North Carolina, the top-reported crimes align with national trends, including phishing, identity theft, and BEC scams. However, the state's financial losses underscore the disproportionate impact of these crimes on businesses and individuals alike. Notable figures from the report include:
- 12,282 Complaints Filed: North Carolina accounted for nearly 2% of all complaints nationwide.
- $234 Million in Financial Losses: The state ranks 13th in the nation for total losses, reflecting the high stakes of these attacks.
These statistics highlight a pressing issue that demands urgent action from both private and public sectors to address vulnerabilities and reduce risks.
Who Is Being Targeted?
Certain industries and sectors have become prime targets for cyberattacks due to the sensitive data they handle or their operational vulnerabilities. According to the report, these include:
- Healthcare: This sector faced a surge in ransomware and database leaks in early 2024, causing disruptions in patient care and financial loss.
- Legal Services: Organizations such as law firms and courthouses are targeted for their sensitive client and case data, making them lucrative targets for cybercriminals.
- Supply Chains: The interconnected nature of supply chains makes them attractive for disruption and data theft, with downstream effects on multiple businesses.
- Engineering and Construction: These industries remained consistent targets through 2023 and 2024, particularly due to their involvement in critical infrastructure projects.
- Financial Institutions: Banks and other financial entities are frequent targets due to the valuable financial information they manage, including payment systems and client records.
- Governments: Local and state governments face ongoing threats due to their extensive networks and sensitive information, ranging from personal data to national security concerns.
- Education: Schools and universities often face cyberattacks aimed at accessing student and faculty data, leading to significant breaches that disrupt learning environments.
Looking Ahead
As cybercrime continues to evolve, it is essential for businesses, individuals, and government agencies to collaborate to enhance their defenses. The IC3 report calls for North Carolina to bolster its security measures to shield its residents and businesses from the growing financial and emotional impacts of cybercrime. Stay tuned for part two, where we'll explore common types of data breaches and strategies to protect your business.
