A Washington think tank has estimated the likely annual cost of cybercrime and economic espionage to the world economy at more than US$445 billion (NZ$523 billion) – or almost 1 per cent of global income.
The estimate by the Centre for Strategic and International Studies [www.csis.org] is lower than the eye-popping US$1 trillion figure cited by President Barack Obama, but it nonetheless puts cybercrime in the ranks of drug trafficking in terms of worldwide economic harm.
Full story:
http://www.stuff.co.nz/technology/digital-living/60096249/cybercrimes-cost-at-523b-worldwide
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