3.8.24 – SSI – D. Craig MacCormack
CoinJournal.net study analyzes data from the FBI’s Internet Crime Complaint Center for 2022 and identifies losses per cybercrime victim.
Alabama has the highest average loss per cybercrime victim, surpassing $50,000, followed by New York and Massachusetts, according to a recent study by CoinJournal.net.
The study analyzes data from the FBI’s Internet Crime Complaint Center for 2022 and identifies the top 10 states with the highest losses per cybercrime victim.
“Cybercrime has become an increasingly prevalent threat in today’s digital age, affecting individuals and businesses alike,” according to the CoinJournal.net announcement. “The financial impact of cyberattacks can be substantial, with victims facing monetary losses as well as potential identity theft and data breaches.”
Highest Average Losses Per Cybercrime Victim
Here’s a look at the top 10 states for highest average cybercrime loss per victim:
Alabama – $50,670.36
Alabama ranks at the top of the list with an average loss of over $50,000 per victim. This figure “underscores the severity of cyberthreats faced by individuals and businesses in the state,” according to the report.
New York – $30,945.34
New York, a hub of economic activity and technological innovation, experiences substantial financial losses per cybercrime victim, averaging almost $31,000 per incident.
Massachusetts – $28,981.74
Massachusetts victims face an average loss of nearly $29,000 per incident. The state’s “robust economy and extensive digital infrastructure make it an attractive target for cybercriminals,” the report says.
South Dakota – $28,428.58
Despite its smaller population compared to other states on this list, South Dakota ranks fourth with victims experiencing financial losses averaging over $28,000 per incident.
California – $24,921.46
California, home to Silicon Valley and numerous tech giants, faces substantial financial losses due to cybercrime, with victims losing nearly $25,000 on average per incident.
Kansas – $24,238.97
Kansas ranks sixth on the list, with victims encountering average losses exceeding $24,000 per incident. The state’s businesses and residents are not immune to the financial impacts of cyberthreats.
New Jersey – $24,132.11
New Jersey residents and businesses also “bear a significant financial burden from cybercrime,” the report says, with victims facing average losses surpassing $24,000 per incident.
Georgia – $24,050.58
Georgia’s position as a major economic and technological hub in the southeastern U.S. is reflected in its average losses per victim.
Utah – $22,853.27
Utah experiences average losses of over $22,000 per victim, highlighting the financial toll cyberthreats take on individuals and organizations in the state.
Vermont – $22,156.77
Rounding out the top 10 is Vermont, where victims face average losses exceeding $22,000 per cybercrime incident. Despite its smaller population, Vermont is not immune to the financial impacts of cyberthreats.
Lowest Average Losses Per Victim
On the flip side, Indiana as the lowest average losses per cybercrime victim, according to CoinJournal at $6,306.98 per incident. West Virginia is the only other U.S. state with an average below $10,000, coming in at $9,859.37 per victim.
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Alaska is next at $10,933.72, followed by New Mexico ($12,723.82), South Carolina ($12,753.66) and Louisiana ($12,848.11). Michigan ($13,111.11), Ohio ($13,184.81), Kentucky ($13,403.62) and Mississippi ($13,809.88) round out the 10 states with the lowest average losses per cybercrime victim.
Washington, D.C., which wasn’t included in CoinJournal’s rankings, has an average cybercrime victim loss of $13,686.20.
“It’s evident that cybercrime poses a pervasive threat in today’s digital landscape, affecting individuals and organizations across various regions,” says Phil Hoey, director of CoinJournal. “The data presented in this study highlights the substantial financial losses incurred by victims of cyberattacks, underscoring the need for heightened awareness and proactive measures to mitigate these risks.
“It’s crucial for individuals and businesses to prioritize cybersecurity by implementing robust security measures and staying informed about emerging threats,” he says.
About the Author
D. CRAIG MACCORMACK, Web Editor
Craig MacCormack is a veteran journalist who joined Security Sales & Integration in June 2023 as web editor. He covered AV, IT and security with SSI’s sister publication, Commercial Integrator, from January 2011 to June 2021.