Kaspersky Lab CEO: Cyber crime costs worsen, $100B loss "multiplied many times"

Share this article:

Kaspersky Lab CEO and Chairman Eugene Kaspersky recently spoke on the steep costs inflicted on the global economy by cyber crime.

"Three years ago we were told that the annual cost of cyber crime was around 100 billion US dollars," Kaspersky reportedly said at the Web Summit in Dublin. "I would say that today that figure is multiplied many times, it is far in excess of that figure."

On Wednesday, The Guardian reported on Kaspersky's talk, where he commented that the worst cyber attacks would be those on critical infrastructure, but along the way hackers have continued to heighten the level of fraud successfully carried out against enterprises.

Share this article:
You must be a registered member of SC Magazine to post a comment.

Sign up to our newsletters

TOP COMMENTS

More in News

ISSA tackles workforce gap with career lifecycle program

ISSA tackles workforce gap with career lifecycle program ...

On Thursday, the group launched its Cybersecurity Career Lifecycle (CSCL) program.

Amplification DDoS attacks most popular, according to Symantec

Amplification DDoS attacks most popular, according to Symantec

The company noted in a whitepaper released on Tuesday that Domain Name Server amplification attacks have increased 183 percent between January and August.

Court shutters NY co. selling security software with "no value"

A federal court shut down Pairsys at the request of the Federal Trade Commission.