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A new report released by the FBI’s Internet Crime Complaint Center (IC3) shows that financial losses due to suspected cybercrime continued to rise sharply over the course of 2021, to a total of $6.9 billion in that year alone, with 847,000 complaints lodged by victims.

Five years ago, the same report showed that internet-based crime accounted for $1.4 billion, on 301,580 complaints. The sharpest and most consistent growth was seen in the area of phishing and other types of credential-based attacks, which rose from about 25,000 incidents in 2017 to nearly 324,000 in 2021.

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