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Economic Impact of Cybercrime
At $600 Billion and Counting - No Slowing Down
Photo: kentoh / Adobe Stock
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The Center for Strategic and International Studies (CSIS), in partnership with McAfee, present Economic Impact of Cybercrime – No Slowing Down, a global report that focuses on the significant impact that cybercrime has on economies worldwide. The report concludes that close to $600 billion, nearly one percent of global GDP, is lost to cybercrime each year, which is up from a 2014 study that put global losses at about $445 billion. The report attributes the growth over three years to cybercriminals quickly adopting new technologies and the ease of cybercrime growing as actors leverage black markets and digital currencies.
