Cybercrime, apparently, does pay. This is according to a few of the articles in this edition as well as many other news and feature reports we’ve done in the past based on any number of research papers that have sprung up over the last 12 to 18 months.
A report from McAfee and the Center for Strategic and International Studies looks at online crime from the perspective of businesses and the impacts they experience when hit by attackers. According to their “Economic Impact of Cybercrime – No Slowing Down” report of 2018, cybercrime is costing businesses about $600 billion, up from the $445 billion they reported back in 2014. The numbers are cause for concern given what seems to be a consistent rise in impacts to the organizations attacked and the money made by criminals. Because bad guys can engage in online criminal activities with more ease damages to individual victims and companies are likely to continue to rise. Other contributing factors: existing cybercriminals are quick to adopt new technologies and they have become more financially sophisticated.
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