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American consumers and business owners lost a record $12.5b last year to online scammers, marking a 22% spike in cybercrime over 2022, according to the FBI. Despite these losses, the FBI's newly released annual internet crime report indicates Americans are growing more vigilant.
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Upgrading battle plans appear to be tied to earnings. “Fraud Management in Online Transactions” found that 46% of merchants generating annual revenues of $1 billion or more are currently improving their anti-fraud efforts. Meanwhile, merchants generating between $100 million and $250 million in annual revenue are lagging, with only 31% actively enhancing their anti-fraud protections.
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