A conservative estimate would be $375-billion in losses, while the
maximum could be as much as $575-billion, said the study, sponsored by
security software company McAfee.
“Cyber crime is a tax on innovation and slows the pace of global innovation by reducing the rate of return to innovators and investors,” Jim Lewis of CSIS said in a statement.
“For developed countries, cyber crime has serious implications for employment.”
The world’s biggest economies bore the brunt of the losses, the research found, with the toll on the United States, China, Japan and Germany reaching $200-billion a year in total.
Losses connected to personal information, such as stolen credit card data, was put at up to $150-billion.
About 40 million people in the United States, roughly 15 per cent of the population, has had personal information stolen by hackers, it said, while high-profile breaches affected 54 million people in Turkey, 16 million in Germany and more than 20 million in China.
Read more: Cyber crime costs global economy $445-billion a year - The Globe and Mail
“Cyber crime is a tax on innovation and slows the pace of global innovation by reducing the rate of return to innovators and investors,” Jim Lewis of CSIS said in a statement.
“For developed countries, cyber crime has serious implications for employment.”
The world’s biggest economies bore the brunt of the losses, the research found, with the toll on the United States, China, Japan and Germany reaching $200-billion a year in total.
Losses connected to personal information, such as stolen credit card data, was put at up to $150-billion.
About 40 million people in the United States, roughly 15 per cent of the population, has had personal information stolen by hackers, it said, while high-profile breaches affected 54 million people in Turkey, 16 million in Germany and more than 20 million in China.
Read more: Cyber crime costs global economy $445-billion a year - The Globe and Mail
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