By John Leyden for The Register

Financial losses from online crime reported to US authorities reached a record high last year, topping nearly $240m. Taking into account unreported crimes the real figure is likely to be much higher.

Auction fraud and other forms of cybercrime reported to the Internet Crime Complaint Center (IC3) were up $40m or 20 per cent from those reported in 2006. The IC3 received 206,884 complaints about internet crimes last year, more than 90,000 of which were referred to law enforcement agencies across the US. IC3, which serves as a clearing house for cybercrime, is a joint operation between the FBI and the National White Collar Crime Center.

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