25-02-2025
Scammers steal £2.2m as reports rise 50% in a year
More than £2.2m was lost through a wide range of scams targeting people on the Isle of Man in 2024, a report has found.
Figures from the Cyber Security Centre (CSC) revealed victims lost £1.2m to investment scams, £391,674 to voice calls cons, and £45,000 through romance fraud.
More than 9,300 suspicious emails and 497 cyber concerns were logged via the centre's reporting service during the period, marking a 50% increase on 2023.
Urging people to report concerns CSC director Mike Haywood said the data was likely to be "just the tip of the iceberg" as many scams still went unreported.
Cases of purchase scams, phishing and bank fraud were reported in the latest annual report, including an incident where one company lost £66,100 after an employee was encouraged to log into a fake banking website.
Account compromises, when unauthorised access or takeover of an online account by a third-party occurs, resulted in losses of £113,472, largely through phishing emails imitating and Manx Telecom.
Other examples of exploitation included fraudulent websites imitating services like Isle of Man Transport, and investment fraud in which celebrities, such as Jeremy Clarkson and Richard Hammond, were impersonated by scammers.
Mr Haywood said: "Every pound lost to scams is not just a loss for our local economy, it's the hard-earned money of individuals in our community."
Money that could be spent on "essential needs, families, or supporting local businesses and creating jobs" was instead "lining the pockets of criminals operating from all corners of the world", he said.
The figures were "deeply concerning" and as many scams went unreported "the real cost to residents could be significantly higher", Mr Haywood said.
"We can only fight against cybercrime if we have a picture of the threats facing our island," he added.
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The Cyber Security Centre for the Isle of Man
Cyber Threat Update Annual Report 2023
