In 2023, based on wire fraud statistics nearly a quarter of consumers received suspicious communications, which may have occurred over text, email, phone, or social media. Of those who interacted with the sender, one in twenty consumers fell victim to wire fraud, which begins over electronic channels. That same year, consumers lost a reported $10 billion to fraudulent activities, a significant portion of which began as wire fraud.

When we think of “property,” the first thing that comes to our mind might be tangible objects—items we’ve purchased, like cars and homes, or entitlements we’ve procured, like land, titles, or even honorifics. However, there is another type of property that includes intangible ownership, creations of the mind, and various assets of a nonphysical nature.

Everyone has received a spam text or email at some point. Their hallmarks are widely known; they often include poor or strange grammar, suspicious links, suggested connections with companies or people, or random individuals asking for help in some capacity. Sometimes, these communications allow scammers and malicious actors to learn about their targets. These targets may be individuals, companies, vendors, software hosts, or any other entity with data worth a cent.

After a bank heist, the work begins with specialized teams and plans engaged, allowing for analysis of the event, and from this analysis, the bank can prepare a response to the incident. The incident response may include stricter entry protocols, additional guards inside or around the building, or the installation of metal detectors, ID scanners, and panes of bulletproof glass surrounding the tellers.

Every year, millions of people get victimized by data breaches. Criminals steal their data from the network environments of organizations, vendors, providers, institutions, and governments; with ever-increasing frequency, cybercriminals are making big moves in the cyber wars—and making billions of dollars.