What is cybercrime costing the global economy?

This is a study that puts the data on a widely shared observation: Cybercrime is becoming a major problem causing billions in losses, as well as major concerns for the many people and organizations affected.

Comparitech actually makes a dismal assessment of the situation with at least 70 million people falling victim to cyberattacks every year. Therefore about 1% of the world’s population is affected by this phenomenon. On average, each of the targets of these hacks loses $4,500. Thus the total amount of these actions would give malicious actors $318 billion per year.

France is no exception to this problem.

By detail, analysts note that the United States is the most targeted: $28 billion in damages, followed by Brazil: 26 billion. The United Kingdom and Russia are also affected by losses of 17 and 15 billion respectively. In terms of the number of residents, Brazil is the most troubled country with 1094 cases per 100,000 inhabitants. France is somewhat affected, with an estimated 675 cases per 100,000 residents.

So we can see that this problem is global. It is also in this sense that the United States and Russia reached an agreement on this issue during a meeting between Joe Biden and Vladimir Poutin. Thus, the US President proposed a kind of non-aggression pact to his Russian counterpart. As a result, some areas that are important to both countries will be declared out of reach of cyber attacks. The same is the case with telecom, health, food sector or even energy.

It should be noted that according to another study conducted by McAfee and the American think tank Center for Strategic and International Studies, cybercrime cost the world economy more than $1000 billion in 2020, compared to 2018. 50% higher.

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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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