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Day Figure

 

Author: Maria Smekalova, RIAC website editor.

 

Cybersecurity Ventures predicts global annual cybercrime costs will grow from $3 trillion in 2015 to $6 trillion annually by 2021. The 2015 costs are comparable with Germany’s GDP in 2015 ($3,36 trillion). Should they reach the predicted size, they would exceed Japan’s GDP in 2015 ($4,38 trillion).

 

The cost includes 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 numbers provided are based on historical cybercrime data considering recent growth, a dramatic increase in hostile state-sponsored and organized crime gang hacking activities, a cyberattack surface, and the cyber defenses.

 

In comparison, the impact of extreme natural disasters is equivalent to a global $520 billion loss in annual consumption, and forces some 26 million people into poverty each year.

 

 

Data:

Microsoft

 

Cybersecurity Ventures

 

World Bank

 

World Bank, GDP 2015

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