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With the development of generative AI becoming more sophisticated for both positive and malicious intent, it’s no surprise there has been an increased surge of cybercrime happening all around the world.
In 2024 alone, we can see these reflect in the 33% increased losses in the US compared to the previous year 2023. According to the FBI Internet Crime Complaint Center (IC3), losses from cybercrime in 2024 exceeded $16 billion, with the top three causes of financial loss stemming from phishing, extortion, and personal data breaches. Important note: When it comes to data incidents, the difference in context is that data incidents are suspicious activity occurring across accounts. A data breach refers to the confirmation of systems being given unauthorized access with malicious intent with financial loss.
