What Happened? | Since 2020, violent crimes have been dropping in the United States, but at the same time, cybercrimes such as scams and online fraud have been significantly increasing. | According to the Federal Trade Commission, in 2024 Americans lost over twelve billion dollars to fraud, a twenty five percent increase from 2023. Significantly, most of that was driven by various types of cybercrime, including identity theft, investment scams, and other financial crimes. | New technologies, especially artificial intelligence (A.I.) programs, have made it easier than ever to commit cybercrimes. The use of generative A.I. has given potential fraudsters cheap and effective tools for committing online scams and fraud. | Why it Matters | Federal Bureau of Investigation data indicates that violent crimes have decreased across the board during the past five years in the United States, with assaults and homicides decreasing the most. While the decrease in violent crime is good news, the corresponding increase in cybercrime and online fraud may tell us something about the nature of crime itself. If the main goal of most criminal conduct is to make money, then it makes sense criminals would embrace the easiest and most effective way for them to make illicit financial gains. | Violent crimes unrelated to financial gain are still a problem, and probably always will be, but the drop in violent crime could also reflect a more atomized society, where people tend to stay in their homes or apartments more and go out less. By attending social events less frequently, there are fewer opportunities for criminals to gain access to potential victims. At the same time, a more electronically connected world presents greater opportunities for cybercrime. | The most common type of cybercrime is financial, and identity theft is the leading category of cybercrime. Identity theft is when someone gains unauthorized access to another person's personal identifying information (name, address, birthdate, and social security number), then uses that data to apply for credit cards, open bank accounts, or use the victim's payment methods to make purchases without their permission. Because identity theft can be done electronically, there is no need for the perpetrator and victim to meet face-to-face. Indeed, most never do. | A shift from in-person to online criminal conduct presents a new set of challenges for law enforcement agencies. With more crime taking place only in cyberspace, many traditional law enforcement approaches are less effective at finding and stopping the perpetrators. In some cases, perpetrators and victims may live in different countries, which means cyber criminals could be beyond the jurisdiction of the local police, making prosecution impossible. | How it Affects You | With the number of people online reaching record numbers, the potential targets for cybercriminals have never been greater. The rise of A.I. is likely to increase the number of people online even more, which means the trend of rising cybercrime will probably continue for the next several years. Learning to spot potential fraud and the use of advanced protection mechanisms such as two-factor authentication will remain vital for users of the modern internet. | | More breaking news below… | Big tech companies projected to spend seven hundred billion dollars on A.I. data centers in 2026. Read more here… |
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