The Cyber Security Centre for the Isle of Man has released an annual version of its threat report.
The report highlights alarming statistics indicating that residents fell victim to scams, resulting in losses exceeding £850,000 in 2023.
The Cyber Security Centre (CSC) emphasises the importance of scepticism and due diligence when engaging with unsolicited communications, offers, or financial opportunities.
The report urges residents and businesses to validate sources, verify authenticity, and promptly report any suspicious activities to mitigate risks. Education and awareness are key defences against falling victim to such scams.
Mike Haywood, Director at the Cyber Security Centre for the Isle of Man said: “These figures present a worrying picture, behind every pound lost is a victim whose emotional wellbeing may also be affected. These scams not only result in financial losses but also erode trust and confidence within our community, in some cases impacting the victims health.”
The report also highlights other eye watering figures lost to online scams, including £130,000 lost to Investment scams, £19,209 lost to text message scams, and £12,000 to romance scams. However, the report clarifies that these figures only come from the reports received and the actual figure is likely much higher.
Mike added: “We encourage anyone who has been in receipt of or been a victim of, a scam to report it to us. We can only fight against cybercrime if we have a picture of the threats facing our Island. Reports allow us to work with the private sector and tailor our education and awareness initiatives counter the threats.”