NASHVILLE, Tenn. (WKRN) — A recent report from the Federal Bureau of Investigation (FBI) revealed an astonishing amount of money lost by internet scammers across the country, including the Volunteer State.
Tennesseans lost $161 million to online predators, according to the 2023 Internet Crime Report. This is a devastating trend, increasing by 40% from his $113 million lost in 2022.
Tennessee ranks 31st in the nation for the most money lost to cybercrime. According to the report, a total of $12.5 billion was lost across the United States in 2023.
Regis Billings, special agent in charge of the FBI’s Nashville field office cyber squad, said people over the age of 60 are at higher risk of falling victim to these hackers. He attributed this statistic to older people’s lack of knowledge and experience with technology.
“I meet people who have poured their life savings into tech support scams, romance scams, or thought they were rolling their 401(k) into other investments like cryptocurrencies, only to end up being completely duped. It’s heartbreaking to go ‘by the bad guys,”’ Billings said. “We’re seeing a lot of this issue revolve around the use of new technologies by new users who haven’t had the opportunity to grow up with the technology.”
Tennessee residents reportedly filed a total of 8,484 complaints with the FBI’s Internet Crime Complaint Center (IC3) last year. Nationally, in 2023, IC3 recorded 880,418 complaints.
“If you feel you have been a victim of these crimes, please contact your local law enforcement partners to find out what is going on,” Billings said.
FBI data shows technical support fraud, investment fraud, and business email compromise as the top categories for losses in Tennessee.
“Many of the technology scams use the name of the U.S. government, either the FBI or the IRS, and impersonate or pretend to be the government,” Billings said. “The U.S. government will not tell you by text or over the internet to hand over cash in exchange for your not being prosecuted. Someone will physically show up at your home as a special agent and present their credentials. ”
Billings said most cybercriminals come from overseas. He explained that their goal was to improve their country’s economy by stealing US dollars.
“They’re looking for additional sources of income. Without producing anything, the easiest way is to just steal it,” Billings said. “Some of the Internet-based criminology that we have seen so far is very easy, has a low cost of entry, and can use new technologies such as cryptocurrencies to circumvent sanctions. We can, because we give a lot of money to those countries. They’re really trying to take advantage of us.”
Billings advised turning on two-factor authentication for your online accounts as a way to keep your money and personal information more secure.
“Many people don’t use this because it’s a free service and the inconvenience that comes with it, but the security benefits completely outweigh the inconvenience to the individual,” Billings said. Masu.
If you are or believe you have been a victim of Internet crime, please contact your local FBI office or file a complaint at ic3.gov.
Click here to read the full 2023 Internet Crime Report and find cybersecurity resources.
