Cybercrime costs the global economy $ 1 trillion annually




The electronic crime losses low compared with previous years

A joint report published by the company “McAfee” McAfee security in cooperation with the Center for strategic and international studies, that the volume of global economic losses caused by cybercrime ranging annually between 300 billion to 1 trillion dollars.

The book report, it is difficult to estimate the value of annual losses resulting from electronic attacks, because some companies do not disclose the details of its losses, and some other companies unable to estimate losses from cyber-attacks.

The new loss report is classified into six categories, namely loss of intellectual property, cyber crime, loss of business information, service interruption and costs of securing networks against attacks, in addition to the damage to the reputation of the company.

To illustrate the jams caused by losses of cyber-crime on the economy, the report compares the estimated cost of losses due to piracy attacks electronic losses on auto accidents in the United States. The report indicates that auto accidents cost the u.s. economy $ 99 up to 168 billion dollars a year, which is estimated at about 0.7 to 1.2 percent of GDP. By comparison, electronic attacks caused losses estimated at between 24 to 120 billion dollars in the United States annually, which is about 0.2 to 0.5 of GDP.

Nevertheless, the report sees lower losses from cyber attacks in General compared to previous years, the report said “McAfee” released in 2009 that the loss has cost the world economy then about 1 trillion u.s. dollars at the very least, while losses in the report ranged from talk of 300 billion to 1 trillion, although the “McAfee” the loss of intellectual property which is not taken into account in the previous report.
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