Cybercrime Cost the World $455 Billion Annually

Cyber-crime

A report, which was sponsored by Internet security and software firm McAfee, is one of the first reports of its kind that was done to quantify the monetary costs of activities such as cybercrime and cyberespionage. The astounding figure derived from the estimate, issued by the Center for Strategic and International Studies, is much lower than the $1 trillion that was cited by the White House, but still elevates illegal cyber activities to the same levels as drug trafficking and is more than likely to attract criminal elements.

 

Read more at http://guardianlv.com/2014/06/cybercrime-estimated-to-cost-more-than-455-billion-annually/#2bCi91BqaO2KjqUg.99

About Technology Risk Managershttp://www.efraudafrica.orgTechnology Risk Managers (efraudafrica) provides pick preview into electronic fraud statistics in Africa. The blog offers insight, analysis, and recommendation on way forward…

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