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The Center for Strategic and International Studies (CSIS) and McAfee just teamed up to try to peg a number that shows just how much cybercrime is costing the global economy. Accounting for intellectual property losses, online fraud and financial crimes, financial manipulation, opportunity costs, post-breach mitigation, cyber insurance, and reputational damage, the overall estimate adds up to as much as $600 billion. That's a $150 billion increase over 2014, which was the last time CSIS drew up similar estimates.
From the report: "The cost of cybercrime is unevenly distributed among all the countries of the world. CSIS found variations by region, income levels and level of cybersecurity maturity. Unsurprisingly, the richer the country, the greater its loss to cybercrime is likely to be."
The Year in Security: 2019This Tech Digest provides a wrap up and overview of the year's top cybersecurity news stories. It was a year of new twists on old threats, with fears of another WannaCry-type worm and of a possible botnet army of Wi-Fi routers. But 2019 also underscored the risk of firmware and trusted security tools harboring dangerous holes that cybercriminals and nation-state hackers could readily abuse. Read more.
Rethinking Enterprise Data Defense
Frustrated with recurring intrusions and breaches, cybersecurity professionals are questioning some of the industry’s conventional wisdom. Here’s a look at what they’re thinking about.
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