Investment Fraud is Fourth Most Common Cybercrime
In a new report released by the FBI, Investment Fraud ranks as the 4th most common cybercrime committed in the United States. The report ranks the top six forms of cybercrime in the United States, outlining several types of fraud that result in large losses for victims.
2016 Shows Millions Lost to Investment Fraud
The report states that $123.3 million was lost in 2016 due to investment fraud. The report cites spam emails as the most common delivery form. Victims typically receive a spam email claiming a new type of stock will hit the market or that prices for particular stocks will go up. Once the recipients have bought the stock, the fraudsters crash the market. The money lost or gained typically benefits the criminals.
Six Types of Common Cybercrime
The FBI report includes the six most common cybercrimes that also yield the highest losses. The following is a list of the top six cybercrimes and the total sum lost:
- Business Email Compromise| $360.5M
- Romance Fraud | $219.8M
- Non-Payment and Non-Delivery | $138.22M
- Investment Fraud | $123.4M
- Corporate Data Breach | $95.87M
- Advance Fee Fraud | $60.49M
Interestingly, virtual currencies have not yet become a major threat in the world of online criminal conduct. Virtual currencies attributed to $28.3m worth of crime-related financial damages throughout 2016. Though this is a large sum, this number is much lower than what regulators had anticipated.
Have You Been a Victim of Investment Fraud?
If you are the victim of investment fraud or believe you have been scammed, you may have certain legal rights that require your immediate attention.
Call an Investment Fraud Attorney Today
If you are looking for an attorney to review your rights and options, the securities lawyers at Dimond Kaplan & Rothstein, P.A. have recovered more than $100 million from banks and brokerages firms for their wrongful actions.