Cost of Cybercrime: It’s Going Up

Lloyd’s (the insurance company) estimated last year that businesses took a total hit of around $400 billion a year from cybercrime. Some others put the number higher, at more than $500 billion. Given that those costs quadrupled in the three year interval from 2013 to 2015, it’s not unreasonable to expect a comparable increase in the next few years. And that’s only the tip of the iceberg, since according to the World Economic Forum a substantial amount of cybercrime is never reported.

Read more here:

http://www.forbes.com/sites/stevemorgan/2016/01/17/cyber-crime-costs-projected-to-reach-2-trillion-by-2019/?ss=Security#7dc043be3bb0

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