Issue link: https://iconnect007.uberflip.com/i/1472190
JULY 2022 I SMT007 MAGAZINE 47 Figure 2: Second hop transfer method. Figure 3: Reported loss associated with BEC/cryptocurrency complaints. support, and romance scams. Often, these individuals provided copies of identifying docu- ments such as driver's licenses, passports, etc., that are used to open cryptocurrency wallets in their names (Figure 2). In the past, the use of cryptocurrency was regularly reported in other crime types seen at the IC3 (e.g., tech support, ransomware, employment), however, it was not identi- fied in BEC-specific crimes until 2018. By 2019, reports had increased, culminating in the highest numbers to-date in 2021 with just over $40M in exposed losses. Based on the increasing data received, the IC3 expects this trend to continue growing in the coming years (Figure 3).