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Cybercrime is now a trillion-dollar cost to the global economy, according to a new report from cybersecurity firm McAfee. The Hidden Costs of Cybercrime report states that costs have risen 50 percent, compared to 2018 when they were estimated at $600 billion
Explanation:
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Answer:
Cybercrime is now a trillion-dollar cost to the global economy, according to a new report from cybersecurity firm McAfee. The Hidden Costs of Cybercrime report states that costs have risen 50 percent, compared to 2018 when they were estimated at $600 billion.
The effects of a single, successful cyber attack can have far reaching implications including financial losses, theft of intellectual property, and loss of consumer confidence and trust. The overall monetary impact of cyber crime on society and Government is estimated to be billions of dollars a year.
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