Cyber-crime Costs Global Economy Billions Dollar Losses Every Year

Jun 10, 2014 (Tue): According to the Center for Strategic and International Studies (CSIS) sponsored by McAfee, losses to business due to the theft of intellectual property exceeding US$445 billion every year while losses to individual due to hacking is about US$160 billion. The research also reveals that losses connected to personal information such as stolen credit card data was recorded at US$150 billion. However, the improved international collaboration was beginning to show results in reducing cyber-crime, said McAfee.

Author: VSDaily Editor

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