The average fraudulent wire transfer was over $1 million in 2024. Specifically, it surged from $430,445 in 2023 to $1,256,797 in 2024.

The median time from initial account access to discovery of the fraudulent fund transfer was 18 days, compared with three days for all incidents generally.

Just over 50% of the wire fraud matters affected the business and professional services and finance and insurance industries

The total amount of fraudulent transfers grew by over 300%, from $35 million in 2023 to $109 million in 2024.