Over $10 Million Lost To Cybercrime This Year
People in Bermuda have “lost in excess of $10 million as a result of cyber-enabled crime” so far this year, police said during a joint press conference with the Bermuda Bankers Association.
The press conference addressed online fraud and aimed to raise awareness of scams affecting the community.
Acting Detective Superintendent Jason Smith said, “Over the last couple of months, the Bermuda Police Service has issued several statements and warnings in relation to cyber-enabled crime.”
He said these efforts followed reports of individuals “who have fallen prey to phishing” and other cyber-enabled crime.
Mr Smith said, “So far this year, the Bermuda Police Service, through reports, can confirm that there have been persons in our community who have lost in excess of $10 million as a result of cyber-enabled crime.
“Most recently, over the last two weeks, we have begun to see somewhat of a shift in that local businesses have been targeted by the fraudsters. In particular, within the last two weeks, there have been seven local businesses which have reported over $1.8 million in losses.”
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10 million is likely a low reported estimate. Now add in what has not been reported… And the banks and the Government twiddle their thumbs. What is our Cybercrime Czar doing? Oh, right. Attending conferences.
This is really scary that 1.8 million dollars has been taking through cyber fraud I could not imagine losing a dollar let alone 1.8 million dollars. I feel greatly sorry for the victims and hope Bermuda can protect us and each other form this kind of evil.