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

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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.

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