This week we are going to continue our focus on Cybersecurity Awareness with some facts about the impact of cybercrime. I would like to thank our IT Manager, Tate Nance, for providing this important information! He has included references as well so you can check those out if you would like to learn even more. I can personally attest to the recent increase in stolen credentials on the dark web as I have dealt with those alerts for the past few weeks.
October is Cybersecurity Awareness Month and is a reminder that cybercrime remains of the most significant threats facing both individuals and businesses.
According to Cybersecurity Ventures who publishes Cybercrime Magazine, cybercrime is predicted to cost the world $10.5 trillion in 2025 and continue to rise in the years to come. [1]
“Cybercrime costs include damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, reputational harm, legal costs, and potentially, regulatory fines, plus other factors” said Steve Morgan, founder of Cybersecurity Ventures. [1]
With the rise of artificial intelligence (AI), cybercrime has become even more enhanced with more sophisticated phishing attacks, deepfakes, social engineering schemes, and malware that can evade traditional security measures. Malicious tools have been by cybercriminals to use such as FraudGPT and Blackmailer which are marketed and sold on the dark web. Cybercriminals can leverage tools like these to write phishing emails that are more convincing, impersonate trusted individuals, and automate large-scale attacks. This new wave of AI-enhanced cybercrime underscores the importance of staying vigilant, both at work and in your personal life.
Here are some more interesting statistics concerning cybercrime this year…
- 97 billion exploitation attempts logged globally. [2]
This is how many times cybercriminals tried to exploit vulnerabilities to gain unauthorized access to systems to steal information.
- 42% increase in stolen credentials on the dark web. [2]
Stolen information continues to be sold on dark web marketplaces for profit, where other cybercriminals then use it to commit additional fraud.
- 333,981 complaints of cyber-enabled fraud schemes reported by the FBI in 2024. [3]
Included in these numbers are prevalent schemes such as call center scams, toll scams, emergency scams, and gold courier scams.
Understanding the tremendous impact that cybercrime has had should encourage you to stay informed and follow cybersecurity best practices to protect yourself, loved ones, and your organization.
Tara Montgomery
Exchange Bank of Alabama
Fraud Specialist
References
[1] https://cybersecurityventures.com/official-cybercrime-report-2025/
[2] https://www.fortinet.com/resources/reports/threat-landscape-report
[3] https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf
