Nevada ranks #3 in states where BEC scams hit hardest

REVEALED: Surprising Findings Show Nevada with the Third Highest Per Capita BEC Scam Losses

• Alaska has been named the state with the highest per capita financial loss due to BEC scams, according to a new study - with a per capita loss of $16.98 in 2023

• New Jersey takes second place - while Nevada, Rhode Island and Minnesota round out the top five

• The study highlights the urgent need for enhanced cybersecurity measures and better public awareness in the most affected states
  

Houston-based managed service provider, HoustonTech, has analyzed FBI's Internet Crime Complaint Center (IC3) data on BEC crimes and associated losses across states. These figures, set against state populations, reveal per capita impacts and uncover the varying economic burdens of these scams.

Alaska emerged as the worst-hit state, reporting an average per capita financial loss of $16.68 due to BEC scams - more than double the national average per capita loss of $7.00. Additionally, with 9.14 victims per 100,000 residents, the prevalence of BEC scams in Alaska is alarmingly high.

New Jersey ranked second, with an average per capita financial loss of $15.08 due to BEC scams. The state also reported a rate of 6.76 victims per 100,000 residents

Nevada, home to the bustling entertainment hub of Las Vegas, ranks third in the study. The state reports an average per capita financial loss of $14.40 due to BEC scams, with 7.36 victims per 100,000 residents.

Rhode Island, a key player in maritime trade and finance, ranks fourth. It reports an average per capita financial loss of $12.95 and 5.66 victims per 100,000 residents due to BEC scams.

Minnesota, representing the Midwest, ranks fifth with a notable average per capita financial loss of $12.15. With 5.59 victims per 100,000 residents due to BEC scams, the state's robust healthcare sector underscores the urgency for strengthened cybersecurity measures.

With a per capita loss of $11.29, Utah secured sixth place in the study. It's 6.55 victims per 100,000 residents underscore the urgent need for enhanced cybersecurity. These figures surpass the national average, highlighting Utah's vulnerability to cybercrime.

New York, California, Connecticut, and Arizona rounded out the top ten states with the highest per capita loss due to BEC crime. 

Table: Top 10 states with highest per capita loss due to BEC crime (2023)

Rank	State	Victim Count	Victim Loss	Population	Loss per Capita	Victims per 100k Residents
1	Alaska	67	$12,236,756	733,406	$16.68	9.14
2	New Jersey	628	$140,070,206	9,290,841	$15.08	6.76
3	Nevada	235	$46,004,149	3,194,176	$14.40	7.36
4	Rhode Island	62	$14,195,616	1,095,962	$12.95	5.66
5	Minnesota	321	$69,732,152	5,737,915	$12.15	5.59
6	Utah	224	$38,595,361	3,417,734	$11.29	6.55
7	New York	1,324	$216,249,339	19,571,216	$11.05	6.77
8	California	3,161	$412,112,793	38,965,193	$10.58	8.11
9	Connecticut	276	$38,103,346	3,617,176	$10.53	7.63
10	Arizona	545	$76,850,493	7,431,344	$10.34	7.33

In 2023, the IC3 received 21,489 BEC complaints, resulting in adjusted losses exceeding $2.9 billion. This alarming statistic positions BEC as the internet crime with the second-highest losses in the U.S.

On the other side of the list, Mississippi takes the top spot as the state with the lowest per capita loss due to BEC crime, standing at $1.19 per capita.

Following closely behind, New Mexico and Vermont secure second and third place, with per capita losses of $1.79 and $1.86 respectively. Despite their lower rankings, these states still face the threat of BEC scams, highlighting the need for vigilance and robust cybersecurity measures.

Table: Top 5 states with lowest per capita loss due to BEC crime (2023)

Rank	State	Victim Count	Victim Loss	Population	Loss per Capita	Victims per 100k Residents
1	Mississippi	71	$7,399,653	6,196,156	$1.19	1.15
2	New Mexico	83	$3,775,992	2,114,371	$1.79	3.93
3	Vermont	41	$1,207,190	647,464	$1.86	6.33
4	Hawaii	73	$2,841,044	1,435,138	$1.98	5.09
5	West Virginia	41	$3,687,868	1,770,071	$2.08	2.32

Commenting on the study, Nuresh Momin from HoustonTech said, "The study's findings reveal the alarming prevalence of BEC scams and their detrimental effects on state economies.

"With states like Alaska and New Jersey experiencing disproportionately high losses, it's evident that BEC scams pose a significant threat nationwide. Businesses and individuals must prioritize cybersecurity measures to mitigate these risks and safeguard against financial losses."

Methodology: 

The analysis utilized 2023 data from the FBI's Internet Crime Complaint Center (IC3) on Business Email Compromise (BEC) crimes reported across states. The objective was to assess associated financial losses. Per capita losses were calculated by incorporating state populations, providing insights into the economic impact of BEC scams in each state. This approach allowed for a detailed examination of BEC crime frequency and financial consequences, based on 2023 data.

Full table

Rank	State	Victim Count	Victim Loss	Population	Loss per Capita	Victims per 100k Residents
1	Alaska	67	$12,236,756	733,406	$16.68	9.14
2	New Jersey	628	$140,070,206	9,290,841	$15.08	6.76
3	Nevada	235	$46,004,149	3,194,176	$14.40	7.36
4	Rhode Island	62	$14,195,616	1,095,962	$12.95	5.66
5	Minnesota	321	$69,732,152	5,737,915	$12.15	5.59
6	Utah	224	$38,595,361	3,417,734	$11.29	6.55
7	New York	1,324	$216,249,339	19,571,216	$11.05	6.77
8	California	3,161	$412,112,793	38,965,193	$10.58	8.11
9	Connecticut	276	$38,103,346	3,617,176	$10.53	7.63
10	Arizona	545	$76,850,493	7,431,344	$10.34	7.33
11	Colorado	495	$57,512,670	5,877,610	$9.79	8.42
12	Texas	1,917	$294,849,405	30,503,301	$9.67	6.28
13	Massachusetts	501	$65,960,320	7,001,399	$9.42	7.16
14	Delaware	61	$9,618,579	1,031,890	$9.32	5.91
15	Maryland	412	$55,021,852	6,180,253	$8.90	6.67
16	Idaho	99	$17,412,873	1,964,726	$8.86	5.04
17	Florida	1,711	$193,828,560	22,610,726	$8.57	7.57
18	Indiana	326	$55,751,807	6,862,199	$8.12	4.75
19	Georgia	598	$88,204,126	11,029,227	$8.00	5.42
20	Illinois	773	$94,174,031	12,549,689	$7.50	6.16
21	Pennsylvania	731	$96,052,798	12,961,683	$7.41	5.64
22	Virginia	600	$63,282,523	8,715,698	$7.26	6.88
23	Tennessee	368	$49,883,412	7,126,489	$7.00	5.16
24	Washington	552	$54,603,486	7,812,880	$6.99	7.07
25	Kansas	143	$19,761,290	2,940,546	$6.72	4.86
26	North Carolina	596	$69,988,104	10,835,491	$6.46	5.50
27	North Dakota	46	$4,692,621	783,926	$5.99	5.87
28	South Carolina	284	$30,639,826	5,373,555	$5.70	5.29
29	South Dakota	40	$5,142,217	919,318	$5.59	4.35
30	Oklahoma	208	$22,651,833	4,053,824	$5.59	5.13
31	Oregon	301	$22,817,664	4,233,358	$5.39	7.11
32	Nebraska	105	$10,538,005	1,978,379	$5.33	5.31
33	Alabama	195	$26,955,606	5,108,468	$5.28	3.82
34	Wisconsin	279	$30,437,803	5,910,955	$5.15	4.72
35	Michigan	561	$50,623,006	10,037,261	$5.04	5.59
36	Ohio	565	$59,124,423	11,785,935	$5.02	4.79
37	New Hampshire	106	$6,995,141	1,402,054	$4.99	7.56
38	Arkansas	128	$15,284,456	3,067,732	$4.98	4.17
39	Missouri	339	$30,188,586	6,196,156	$4.87	5.47
40	Kentucky	164	$20,269,246	4,526,154	$4.48	3.62
41	Wyoming	46	$2,302,076	584,057	$3.94	7.88
42	Louisiana	167	$17,565,708	4,573,749	$3.84	3.65
43	Montana	83	$3,891,985	1,132,812	$3.44	7.33
44	Iowa	161	$10,906,708	3,207,004	$3.40	5.02
45	Maine	54	$4,516,013	1,395,722	$3.24	3.87
46	West Virginia	41	$3,687,868	1,770,071	$2.08	2.32
47	Hawaii	73	$2,841,044	1,435,138	$1.98	5.09
48	Vermont	41	$1,207,190	647,464	$1.86	6.33
49	New Mexico	83	$3,775,992	2,114,371	$1.79	3.93
50	Mississippi	71	$7,399,653	6,196,156	$1.19	1.15

Sources: Internet Crime Complaint Center (IC3) 2023 State Reports2023 IC3 Annual ReportPopulation Data from United States Census Bureau