Industry Insights
The economic impact of cybercrime? Almost $600 billion
Reported by helpnetsecurity.com
Cybercrime costs businesses close to $600 billion, or 0.8 percent of global GDP, which is up from a 2014 study that put global losses at about $445 billion, according to a report by McAfee, in partnership with the Center for Strategic and International Studies (CSIS).The report attributes the growth over three years to cybercriminals quickly adopting new technologies, the ease of engaging in cybercrime – including an expanding number of cybercrime centers – and the growing financial sophistication of top-tier cybercriminals.