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Cyber-enabled fraud is driving most reported cybercrime losses
In the most recent reporting period, reported cybercrime losses totaled nearly $17.7 billion, with investment fraud and business email compromise accounting for more than $13.8 billion, according to FBI IC3 data cited in a new white paper.
Cyber-enabled fraud is emerging as a major financial risk for affluent individuals and their brokers, with the bulk of reported cybercrime losses tied to these schemes, according to research highlighted by Insurance Business.
The outlet cites data from the FBI Internet Crime Complaint Center, saying cyber-enabled fraud categories accounted for about 85% of all reported cybercrime losses in the most recent annual reporting period, with total losses nearing $17.7 billion.
Within that total, investment fraud, business email compromise, and tech support fraud, categories that disproportionately affect high-net-worth individuals, represented more than $13.8 billion of losses, the article says.
Insurance Business also points to a 2026 Tokio Marine HCC white paper on personal cyber risk for high-net-worth families, arguing brokers and risk managers need to assess gaps in clients' current risk programs and evaluate what makes a personal cyber policy more effective when incidents occur.