The True Cost of Online Crime

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Source: The True Cost of Online Crime

You can’t believe everything you read on the Internet. That’s a lesson I learned long before testifying in 2000 at the trial of a man who’d sold 10,000 fake luxury goods through a website, including counterfeit Rolex, Cartier, and Movado watches. I am a private investigator in New York. He later became the first criminal ever convicted on federal charges of selling counterfeit merchandise online. He certainly wasn’t the last. This week the FBI’s Internet Crime Complaint Center (IC3) released its annual report, tallying record-setting losses of $1 billion reported by 288,000 consumers in 2015. The IC3 notes that less than 15 percent of fraud victims report their crimes to law enforcement. Unfortunately, these numbers are not even close to describing the true extent of the problem.

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