McAffee Report: The Hidden Costs of Cybercrime

The recently published McAffee Report, “The Hidden Costs of Cybercrime” is a sobering and insightful analysis of the current state of this problem.

Here are the first couple of paragraphs in the Executive Summary, “Since 2018, we estimated that the cost of global cybercrime reached over $1 trillion. We estimated the monetary loss from cybercrime at approximately $945 billion. Added to this was global spending on cybersecurity, which was expected to exceed $145 billion in 2020. Today, this is $1 trillion dollar drag on the global economy.”

McAffee Report :The Hidden Costs of Cybercrime

Additional Reading:

https://www.businesswire.com/news/home/20201206005011/en/New-McAfee-Report-Estimates-Global-Cybercrime-Losses-to-Exceed-1-Trillion

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