MANUFACTURING TIDBITS
Manufacturers Pay a Price as Americans Lost a Record $3.5bn to Cybercrime in 2021 YTD by TR Cutler
When consumers lose money to cybercrime, so do manufacturers. According to Atlas VPN extracted data from publicly available government sources, they found that US citizens lost $3.49 billion to cybercrime in the first three quarters of 2021. The damages translate to $12.78 million per day. The wave of cybercrime is
plowing throughout America with the biggest damages in history. American manufacturers are not adequately prepared, and customer distrust is evident.
• The FTC received 1.6 million fraud and identity theft complaints in 2021.
Reviewing the report in 2021, internet crime amounted to $1.58 billion more than damages in 2020.
• Americans lost $956 million to investment scams, representing a 277.87% growth YoY.
• The FTC has to deal with around 5,869 complaints every single day.
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Manufacturing Outlook / December 2021