Payment redirection fraud is a worldwide problem. Here's what the international data shows.
The FBI's IC3 receives over 2,000 cybercrime complaints per day on average
In 2024, total complaints: 859,532 with losses of $16.6 billion (33% increase from 2023)
BEC attacks accounted for 73% of all reported cyber incidents in 2024
Total BEC losses over 3 years: nearly $8.5 billion
The FBI dubbed BEC "The $55 Billion Scam" based on cumulative global losses tracked since 2013.
FBI IC3: Average BEC attack cost: over $125,000
BEC attacks are the second most expensive type of breach, costing an average of $4.89 million
UK experienced 3.31 million fraud cases in 2024 (12% increase from 2023)
Total losses from unauthorised transactions: £722 million (2% increase)
Total fraud cases: 3.13 million (14% increase)
93% of UK companies were targeted by fraud in the past year
Most common fraud type: billing and invoice fraud (26%)
Central Bank of Ireland reported 26% increase in fraudulent payments in 2023, totalling €126 million
Nearly €9.4 million laundered through money mule accounts (year to June 2025)
FBI's IC3 Recovery Asset Team: 66% success rate in freezing fraudulent BEC transfers
Only 22% of businesses recovered three-quarters or more of stolen funds in 2024
30% of businesses couldn't reclaim any stolen funds
Data from FBI IC3 Annual Report 2024, UK Finance Annual Fraud Report 2025, Central Bank of Ireland, Proofpoint, and Nacha.
