Cybercrime The World’s Third Largest Economy After the U.S. and China
Cybersecurity Ventures released a new report that showed cybercrime is going to cost the world $8 trillion USD in 2023.
If it were measured as a country, then cybercrime would be the world’s third largest economy after the U.S. and China.
“We expect global cybercrime damage costs to grow by 15 percent per year over the next three years, reaching $10.5 trillion USD annually by 2025, up from $3 trillion USD in 2015.
“Cybercrime costs include damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm.”
The 2022 Official Cybercrime Report published by Cybersecurity Ventures and sponsored by eSentire, provides cyber economic facts, figures, predictions and statistics which convey the magnitude of the cyber threat we are up against, and market data to help understand what can be done about it. Link to article where you can download the report and see the VIDEO: