COUNSELOR’S CORNER Concerning Trends in Cyber-Enabled Fraud An Internet Crime Update for Financial Institutions Robert Kardell, Attorney, and Aiden Welsh, Summer Associate Baird Holm LLP The Federal Bureau of Investigation (FBI) maintains the Internet Crime Complaint Center (IC3) and issues an annual report. The latest report, issued in 2025 and accessible by scanning the QR code, presents some concerning statistics. https://www.ic3.gov/AnnualReport/Reports/2025_IC3Report.pdf Cyber-Enabled Crime Continues to Rise Fraud conducted through the internet and other electronic communications has grown into one of the most significant financial crime problems facing American consumers and businesses. The IC3 2025 Annual Report stated that 1,008,597 complaints were filed, which resulted in approximately $20.9 billion in losses. That represents a 26% increase in reported losses from 2024 and amounts to an average reported loss of approximately $20,699 per complaint. IC3 is now receiving nearly 3,000 complaints every day. Those figures are striking not simply because they are large, but because of how rapidly the financial consequences of fraud are increasing. The FBI reported approximately $16.6 billion in losses in 2024, compared with $20.9 billion in 2025. 12
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