How to Protect Yourself from Cybercrime

The Rising Threat

In 2023, the FBI’s Internet Crime Complaint Center (IC3) received 880,418 complaints, with reported losses of $12.5 billion. In 2024, the total number of complaints dipped slightly to 859,532, but reported losses surged to $16.6 billion—a record high (Source: FBI, Reuters, Axios).

These numbers highlight the growing sophistication of cybercriminals, who increasingly target individuals and organizations alike. As Chad Yarbrough, the FBI's Deputy Assistant Director, put it: “The criminals Americans face today may look different than in years past, but they still want the same thing: to harm Americans for their own benefit.” (Source: Axios).

Globally, cybercrime’s costs are projected to rise from $9.5 trillion in 2024 to $10.5 trillion by 2025 (Source: eSentire, OpenProvider).

Even “Offline” Individuals Are at Risk

Some clients believe that by avoiding online banking, credit card portals, or investment logins, they are safe. Unfortunately, that isn’t the case. Cybercriminals often combine offline scams with stolen data to commit fraud.

Examples include:

• Fake phone calls claiming to be from banks, the IRS, or Medicare.
• Mailed scams, such as fraudulent invoices or “urgent” notices.
  
• ATM skimming devices that capture debit card information.
  
• Criminals piecing together partial Social Security numbers, addresses, or phone numbers from offline records.

Even if you never log in online, your personal data may already be in a breach from a company, government office, or healthcare provider.

Key Steps to Strengthen Your Security

Here are concrete protections every individual can take, whether or not they use online accounts:

1. Lock or Freeze Your Credit

• A credit freeze prevents new credit accounts from being opened in your name.
  
• A fraud alert notifies lenders to take extra steps before approving credit.
  
  • If you need to remove the lock just find out which bureaus the creditor uses and call (Equifax, Experian or TransUnion) to remove the lock for 24 hours.
• Both are free and available from all three bureaus:
  • Equifax: https://www.equifax.com/personal/credit-report-services/credit-freeze/
    
  • Experian: https://www.experian.com/freeze/center.html
    
  • TransUnion: https://www.transunion.com/credit-freeze

2. Monitor Accounts Regularly

• Review bank and credit card statements monthly.
  
• Use text or email alerts for unusual transactions.
  
• For investment accounts, if you avoid digital access you may request mailed statements .

3. Protect Your Identity

• Sign up for identity theft monitoring (some insurers provide this).
  
• Secure personal documents at home in a safe or locked file cabinet.
  
• Shred paperwork with sensitive information before disposal.

4. Use Strong Authentication

• If you do access accounts online, enable multifactor authentication (MFA).
  
• Create long passphrases (12+ characters, mixing letters, numbers, and symbols).
  
• Never reuse the same password across multiple accounts.

5. Be Wary of Unsolicited Contacts

• Don’t share personal details over phone, text, or email unless you initiated the interaction.
  
• Verify requests by contacting the organization directly using a trusted phone number.

Special Considerations for Older Adults

Older adults are often prime targets for scammers. According to the FTC, people over 60 reported over $3.4 billion in losses to fraud in 2023 (Source: FTC).

Helpful resources for older adults and caregivers:

• AARP Fraud Watch Network:  https://www.aarp.org/money/scams-fraud/fraud-watch-network/
  
• FTC Elder Fraud Resources:  https://www.ftc.gov/news-events/topics/protecting-older-consumers/stop-elder-fraud
  
• Identity Theft Help (FTC):  https://www.identitytheft.gov/ – step-by-step recovery plans if identity theft occurs.
  
• Cybercrime Reporting: Contact the FBI IC3 at https://www.ic3.gov or call 1-877-4-HSI-TIP for Homeland Security Investigations.

Tips for caregivers helping older relatives:

• Sit down together to review bank and credit card statements.
  
• Encourage skepticism about “urgent” calls demanding money or information.
  
• Place a credit freeze if they no longer need new loans or credit.
  
• Use call-blocking tools to reduce robocalls and scam attempts.

Final Thoughts

Cybercrime is not only an online problem—it can affect anyone, regardless of internet usage. From freezing your credit to practicing skepticism with calls and emails, proactive steps can greatly reduce your risk.

As security technologist Bruce Schneier says: “Amateurs hack systems; professionals hack people.” (Source: Ace Cloud Hosting).

The best defense isn’t just technology—it’s awareness and consistent habits.

Sources

1. FBI Internet Crime Report (IC3 2024). Federal Bureau of Investigation. https://www.fbi.gov/news/press-releases/fbi-releases-annual-internet-crime-report

2. Reuters. “FBI says cybercrime costs rose to at least $16 billion in 2024.” April 23, 2025. https://www.reuters.com/world/us/fbi-says-cybercrime-costs-rose-least-16-billion-2024-2025-04-23/

3. Axios. “Internet crime losses hit record high in 2024.” April 23, 2025. https://www.axios.com/2025/04/23/fbi-internet-crime-loss-record-high-2024

4. Trustwave. “FBI 2024 IC3 Report: Phishing Soars, Ransomware Batters Critical Infrastructure as Cyber Losses Climb.” 2024. https://www.trustwave.com/en-us/resources/blogs/trustwave-blog/fbi-2024-ic3-report-phishing-soars-ransomware-batters-critical-infrastructure-as-cyber-losses-climb/

5. eSentire. “Cybercrime to Cost the World $9.5 Trillion Annually in 2024.” 2024. https://www.esentire.com/web-native-pages/cybercrime-to-cost-the-world-9-5-trillion-usd-annually-in-2024

6. OpenProvider. “Cybersecurity Statistics, Trends, and Data.” 2024. https://www.openprovider.com/blog/cybersecurity-statistics-trends-and-data

7. Ace Cloud Hosting. “30+ Cybersecurity Quotes That Will Inspire You to Stay Secure.” 2024. https://www.acecloudhosting.com/blog/cybersecurity-quotes/

8. Federal Trade Commission (FTC). “FTC Report: Fraud Against Older Adults Topped $3.4 Billion in 2023.” March 2024. https://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-report-fraud-older-adults-topped-34-billion-2023

9. AARP. “Fraud Watch Network.” https://www.aarp.org/money/scams-fraud/fraud-watch-network/

10. IdentityTheft.gov. U.S. Government Identity Theft Recovery Resource. https://www.identitytheft.gov/