Cybercrime seems unstoppable. Thousands of cybercrimes occur every year, costing from a few hundred dollars to millions. Companies and agencies. The risks of cybercrime continue to grow on the operations and profits of many enterprises, and the time spent dealing with a cyber accident can be long; therefore, need to do more to prevent cyber accidents, and they also need to do more to accelerate the restoration of service, address business disruptions and repair the damage to staff morale and customer confidence.
Using the model developed for previous reports, we estimate the cash cost of cybercrime at about. $945 billion, or just over 1% of world GDP, that’s a big increase from our estimates for 2018. $600 billion. Best reports explain some of the increase, however, it is clear that cybercrime continues to grow rapidly, with global spending on cybersecurity expected to exceed. $145 billion in 2020, with cybercrime creating a burden of $1 trillion on the global economy.
