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:

Sign up to our newsletters

More in News

Brazilian president signs internet 'Bill of Rights' into law

Brazilian president signs internet 'Bill of Rights' into ...

President Dilma Rousseff signed the legislation on Wednesday at the NetMundial conference in Sao Paulo.

Android trojan sends premium SMS messages, targets U.S. users for first time

Android trojan sends premium SMS messages, targets U.S. ...

An SMS trojan for Android, known as FakeInst, has been observed sending premium SMS messages to users all over the world, including, for the first time, the United States.

Report: DDoS up in Q4 2013, vulnerability scanners leveraged to exploit sites

Report: DDoS up in Q4 2013, vulnerability scanners ...

Researchers observed 346 DDoS attacks in the final quarter of 2013 and attackers used Vega and Skipfish vulnerability scanners to exploit web flaws at financial companies.