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Internet Scammers Stole $10 Billion From Americans In 2022 – FBI

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Internet Scammers Stole $10 Billion From Americans In 2022 – FBI

According to a report by the FBI published this month, American citizens fell victim to internet scams and lost a staggering $10.3 billion in 2022.

This marks the highest amount of losses in the past five years. The FBI’s Internet Crime Complaint Center received over 2,000 complaints per day, as reported by ABC News on Tuesday.

Phishing expeditions were the most common crimes reported, with 300,497 victims suffering losses amounting to over $52 million in 2022, according to the FBI.

Phishing, defined as “the use of unsolicited email, text messages, and telephone calls purportedly from a legitimate company requesting personal, financial, and/or login credentials,” is frequently successful because phishing emails will often resemble those from people victims know personally, prompting them to click on unsecured links.

Data breaches and non-payment scams were the next most common internet scams in 2022, claiming 58,859 and 51,679 victims, respectively, per the report.

Ransomware, a type of cyber intrusion which locks up a device’s data until a ransom is paid, is of particular concern for cybersecurity professionals due to the underreporting of ransomware attacks by victims.

In 2022, the FBI “received 2,385 complaints known as ransomware with adjusted losses of more than $34.3 million,” according to the report.

“The IC3 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,” the IC3 warned.

It has also revealed that the most heavily targeted industry for ransomware attacks was the healthcare industry, followed by critical manufacturing and government.

“The FBI does not encourage paying a ransom to criminal actors,” the report said.

“Paying a ransom may embolden adversaries to target additional organisations, encourage other criminal actors to engage in the distribution of ransomware, and/or fund illicit activities. Paying the ransom also does not guarantee that a victim’s files will be recovered.”

Earlier this year, the Justice Department disrupted a ransomware gang called HIVE, which was responsible for 87 incidents targeting critical infrastructure, the report says.

Call center scams, which emanated from India mainly, are responsible for over $1 billion in losses to victims.

“Call centers overwhelmingly target the elderly, with devastating effects,” the report says. “Almost half the victims report to be over 60 (46%), and experience 69% of the losses (over $724 million).”

According to the report, the elderly were the age group that lost the most to internet scams in 2022, with a total of $3.1 billion.

Additionally, the report states that the FBI has been successful in recovering funds for victims with a 73% success rate.

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Alakija Hails Gov Adeleke

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The Chancellor of Osun State University and Executive Vice Chairman of Famfa Oil Limited, Folorunso Alakija has described Governor Ademola Adeleke as “an action Governor who is delivering good governance to the good people of Osun state”.

She bared her mind, while hosting Gov Adeleke at the Ikoyi headquarters of Famfa Oil Limited.

According to her, she she has been following activities of Gov Adeleke since he assumed office, and commended him for setting a good leadership example.

The billionaire businesswoman on the occasion flanked by two of her directors, Ladi and Folarin Alakija, noted that the Osun State Governor has been demonstrating strong passion for public service and pursuing a big agenda for the state.

She prayed to God Almighty to strengthen the Governor for a second term in office, as in her opinion, four years were not enough for an action governor like Gov Adeleke to deliver fully on his ambitious agenda for the state.

Reviewing her tenure as the Chancellor of the Osun State University, the Famfa boss recalled the conception and stages of completion of the UNIOSUN Medical Research and Training Hospital which she wholly donated and financed.

She pointed out that the project which is 95 percent completed was designed to serve the health needs of patients from far and near and elevate service to humanity to a higher level.

Earlier, Governor Adeleke, accompanied by the Vice Chancellor of the Osun State University, Prof Odunayo Clement Adebooye and other state officials, said he was ‘on a thank you visit to the business mogul to appreciate her huge contributions to the growth and development of the state university’.

Gov Adeleke expressed appreciation for the massive multi-billion naira Medical Research and Training hospital that Apostle Dr Alakija was building at the State university, describing Famfa boss as “a commendable role model in the field of philanthropy.

“We are here as a government to appreciate you. You are uncommon and rare in your love for service to humanity.”

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JUST IN: FG Announces Launch Date For Student Loan Applications

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The Federal Government of Nigeria (FGN) has announced that the portal for student loan applications will officially open on May 24, 2024.

This development is part of the Nigerian Education Loan Fund’s efforts to enhance access to higher education, as stated by the Fund’s media lead, Nasir Ayantogo, on Thursday night.

According to Ayantogo, the launch of the application portal is a significant step in President Bola Tinubu’s commitment to providing accessible and inclusive education for Nigerian students.

This initiative follows the signing of the Access to Higher Education Act, 2023, by President Tinubu on June 12, 2023 which aims to provide interest-free loans to financially disadvantaged students pursuing higher education in Nigeria.

Dele Alake, a member of the former Presidential Strategy Team, noted that this move fulfills one of President Tinubu’s key campaign promises to liberalize funding for education.

The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund to handle all loan requests, grants, disbursements, and recoveries.

Initially, the government announced that the scheme would launch in September, but it faced several delays, resulting in an indefinite postponement in early March.

The Presidency attributed the delay to President Tinubu’s directive to expand the scheme to include loans for vocational skills.

Following a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu instructed the Fund to extend interest-free loans to Nigerian students interested in skill-development programs.

President Tinubu stressed the importance of including those who may not seek university education, noting that skill acquisition is equally as important as earning academic degrees.

He had said, “This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas.

“This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation.

“In accordance with this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education,”

Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.

According to the statement, the portal features a user-friendly interface, allowing students to conveniently submit their loan applications.

The statement added, “We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation. Students can access the portal on www.nelf.gov.ng to begin application.”

 

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JUST IN: Tinubu Welcomes Senegal’s Youngest President At Villa

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President Bola Tinubu received Senegal’s newly elected President, Bassirou Faye, at the Aso Rock Villa in Abuja on Thursday.

Faye, who arrived at 3:09 p.m., is making his first official visit to Nigeria since taking office last month.

At 44, he is the youngest president in Senegalese history, having secured a decisive victory in April’s delayed presidential election with over 54% of the vote.

 

 

 

More to follow…….. 

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