US Church loses Rs 6.5 crore in email scam

The church had outgrown its previous sanctuary and now meets in its gymnasium, requiring multiple Sunday services to accommodate all its attendees.

Cybercrime is on the rise as hackers continue to steal data, disrupt business and cause harm online. The result is billions of dollars in losses: The total annual loss in the US from cybercrime reached $4.2 billion in 2020, according to data released Tuesday from StockApp.com. That amounts to a 55% increase over the last two years.

Out of the total, $1.8 billion, or 42 per cent, came from business email compromises. The most common cybercrimes include phishing, nonpayment scams and extortion, according to the data.

Last year, multiple security breaches resulted in the compromise of millions of people’s data. MGM Resorts reported 10.7 million guests’ data stolen, Marriott saw 5.2 million customer accounts affected.

Malicious cyber activity has often threatened the public’s safety and the national and economic security. The FBI’s cyber motive is to force risk and consequences on cyber adversaries. The goal of federal agencies is to change the behavior of criminals and nation-states who believe they can compromise networks, steal financial or intellectual property. For this to be done, a unique mix of authorities, capabilities, and partnerships are undertaken to tackle offenders.