Scammers took more than £850k from Manx residents in 2023, report says

The island's Cyber Security Centre analysed numbers and trends across 2023

More than £850,000 was lost to scams on the Isle of Man in 2023, a report has found.

The Cyber Security Centre (CSC) found £130,000 was lost to investment scams, £19,209 to text message cons and £12,000 to romance fraud.

CSC director Mike Haywood said the numbers presented "a worrying picture".

"These scams not only result in financial losses but also erode trust and confidence within our community," he added.

Examples of exploitation in the CSC report included cases of account hacking, one of which saw a person's eBay account accessed and more than £8,000 of goods purchased within 20 minutes.

There were also cases of phishing, purchase scams and bank fraud reported.

'Counter the threats'

The CSC said the numbers were only compiled using figures from reports received and warned the true figure was "likely much higher".

It said throughout the year, 6,220 emails and 701 cyber concerns were reported and a total of £862,334 was lost to fraudulent activity.

It added that the number of reports was "relatively low" when compared to the amount it was "made aware of through social media and other forms".

Urging people to report any suspicious behaviour, Mr Haywood said the CSC could "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," he added.

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