Cybercrime costs to top $1 trillion this year: researchers

Washington (AFP) – Cybercrime is expected to cost the global economy more than $1 trillion this year, up more than 50 percent since 2018, a research report said Monday. The report by McAfee Corp. with the Center for Strategic and International Studies (CSIS) concluded that the cost of online criminal activity is more than one percent of global economic output, and also had significant non-monetary impacts. The researchers noted a surge in a range of attacks including ransomware, phishing, business email takeovers, spyware and crytpocurrency theft. Some of the increase can be attributed to weak…

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HEDGE accordingly