According to the latest FBI cybercrime report, incidents surged 22% year-over-year, costing Americans over $12.5 billion. Here’s how to protect yourself from becoming the next statistic.

Cybercrime is at an all-time high, with individuals increasingly targeted by sophisticated scams, identity theft, and financial fraud. According to the FBI’s 2023 Internet Crime Report (the last full year for which data is available), the Internet Crime Complaint Center (IC3) received 880,418 complaints last year, a nearly 10% increase from 2022. Total reported losses skyrocketed to over $12.5 billion—a staggering 22% rise from the previous year. 

It should be noted that these numbers are by no means definitive, as the vast majority of cyber attacks go unreported. Still, these numbers can provide insights into cyber attack trends targeting individuals and how they change over time. 

Among the top types of threats individuals faced were:

‍1. Phishing & social engineering attacks

Phishing remains the most prevalent cyber threat, accounting for 298,878 complaints in 2023. Cybercriminals use deceptive emails, text messages, and phone calls to trick victims into revealing sensitive information, such as passwords or financial details. These attacks are becoming more sophisticated, often impersonating trusted entities like banks, government agencies, or friends and family.

‍2. Investment & cryptocurrency scams

With digital investments becoming more mainstream, scammers are taking advantage. In 2023, investment scams—including those involving cryptocurrency—accounted for the highest financial losses of any category, totaling over $3.9 billion. Many victims were lured by fake investment opportunities promising high returns, only to find their money stolen.

Identity theft remains a major concern, with criminals using stolen personal information to open fraudulent accounts, secure loans, and even commit crimes under a victim’s name.

‍3. Identity theft & account takeovers

Identity theft remains a major concern, with criminals using stolen personal information to open fraudulent accounts, secure loans, and even commit crimes under a victim’s name. In 2023, identity-related fraud led to billions in losses, with personal data often obtained through data breaches, phishing, or social engineering.

‍4. Tech support & impersonation scams

Fraudsters increasingly pose as tech support agents or representatives from well-known companies, convincing victims to grant them remote access to their devices. These scams resulted in losses of nearly $1 billion in 2023, as criminals installed malware, stole financial data, or demanded payments for fake services.

‍5. Ransomware attacks

While ransomware is often associated with businesses, individuals are not immune. In these attacks, hackers encrypt a victim’s files and demand a ransom for their release. The IC3 reported a sharp rise in ransomware cases, with devastating consequences for those affected.

How to Protect Yourself and Your Family

With cyber threats escalating, individuals must proactively safeguard their personal and financial security. Here’s how:

‍1. Stay vigilant against phishing attacks
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• Never click on suspicious links or download attachments from unknown senders.
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• Verify the legitimacy of emails, texts, and calls before providing personal information.
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• Use call-blocking and anti-phishing features on your devices.

2. Practice good digital hygiene—continuously
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• Use strong, unique passwords for all accounts and enable two-factor authentication.
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• Regularly update your software and security settings to protect against vulnerabilities.
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• Monitor your credit reports and financial accounts for any unauthorized activity.

3. Use a security platform like Upfort Shield

Cybersecurity threats are constantly evolving, making it essential to have a comprehensive solution in place. A platform like Upfort Shield offers proactive protection against identity theft, fraud, and cyber threats by providing front-line defenses (e.g., Inbox Defender, Browser Firewall) to prevent attacks.

Identity fraud insurance is a proactive measure that helps cover costs and losses associated with identity theft. While it won’t prevent fraud, it provides financial and expert assistance to restore your identity if you're targeted.

4. Protect your identity with ID fraud insurance

Identity fraud insurance is a proactive measure that helps cover costs and losses associated with identity theft. While it won’t prevent fraud, it provides financial and expert assistance to restore your identity if you're targeted. Coverage often includes:
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• Reimbursement for legal fees and lost wages while resolving identity theft cases.
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• Credit monitoring and fraud resolution support to detect and respond to threats.
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• Assistance from fraud specialists who can guide you through the recovery process.
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• Reimbursement for stolen funds in some instances, depending on the policy.

With identity-related crimes on the rise, ID fraud insurance can provide peace of mind and a financial safety net for individuals and families.

‍5. Stay educated and alert
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• Follow cybersecurity best practices and educate family members about common threats.
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• Be cautious when sharing personal information online, especially on social media.
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• Consider freezing your credit if you're not planning to open new accounts.

Final Thoughts

The digital world presents endless opportunities, but also significant risks. With cybercriminals evolving their tactics, it’s more important than ever to stay vigilant, secure your personal information, and take proactive steps to protect yourself. Using a cybersecurity platform like Upfort Shield, investing in identity fraud insurance, and following strong cybersecurity habits can help ensure that you and your family stay safe in an increasingly dangerous online landscape.

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