Cybercrime costs the world economy more than $1 trillion, or just more than one percent of global GDP, which is up more than 50 percent from a 2018 study that put global losses at close to $600 billion, McAfee reveals.
Beyond the global figure, the report also explored the damage reported beyond financial losses, finding 92 percent of companies felt effects beyond monetary losses.
“The severity and frequency of cyberattacks on businesses continues to rise as techniques evolve, new technologies broaden the threat surface, and the nature of work expands into home and remote environments” said Steve Grobman, SVP and CTO at McAfee.
“While industry and government are aware of the fi ..
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