Italy reports record cyber-fraud cases in 2024

Italy's Postal Police said Friday they investigated 18,714 cyber-fraud cases in 2024, resulting in over 181 million euros (186 million U.S. dollars) in stolen funds, both record highs, reported Xinhua.

In their annual report, the Postal Police said that 26 percent of the cyber-fraud cases investigated involved fraudulent online trading of securities.

Despite being a smaller portion of total cases, these crimes accounted for 80 percent of the overall value of cyber-fraud.

Fraud linked to electronic commerce made up the largest share at 46 percent of all cases but represented just 5 percent of the total stolen funds.

The report highlighted a 15 percent rise in cases compared to the previous year, with the total value of fraud increasing by 32 percent from 2023.

Despite the surge in cases and financial losses, the number of individuals investigated remained almost unchanged, rising by just ten to 3,581. (1 euro = 1.03 U.S. dollars)