Cybercrime has become the third largest economy in the world after the U.S. and China Cybercrime is the third largest economy in the world. GDP
[[Azure Tech Day March 2024 Edition]]
I heard that the attacker in cyber security is equivalent to the 3rd largest country in GDP, is that true?
Yes, the story is actually well-founded: according to a report by Cybersecurity Ventures, the cost of cybercrime will reach 10.5 trillion annually, which represents a significant increase from $3 trillion in 2015. This increase is based on historical cybercrime data, increased hacking activity by hostile state-sponsored and organized crime groups, and a cyber attack surface area that is expected to be orders of magnitude larger by 2025 than it is today (Cybercrime Magazine).
Thus, the economic losses caused by cybercrime are enormous, so much so that it has an impact that is compared to the size of an entire nation’s economy. The costs of cybercrime include data damage and destruction, stolen money, lost productivity, intellectual property theft, personal and financial data theft, embezzlement, fraud, interruption to normal operations after an attack, forensic investigations, recovery and removal of hacked data and systems, and defamation (Cybercrime Magazine).
These data show that cybersecurity threats are not simply a matter for individual companies or individuals, but can have significant consequences for the economy of an entire nation. As a result, cybersecurity measures and investments are becoming increasingly important.
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