Cybercrimes in the United States have resulted in hundreds of billions of dollars in losses, and threaten public safety and economic security.
The victims are widespread and include individuals, schools, businesses, utilities, and governments..
As of 2023, the average cost of a data breach in the United States amounted to 9.48 million U.S. dollars, up from 9.44 million U.S. dollars in the previous year.
The global average cost per data breach was 4.45 million U.S. dollars in 2023..
Costs and Consequences
The US Federal Bureau of Investigation's (FBI) Internet Crime Complaint Center (IC3) estimated, based on a combination of reported attacks, law enforcement reports, and financial institution files, that BEC cost victims more than 43 billion USD between 2016 and 2021.Sep 27, 2023.
We estimate that malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016..
The FBI report details more than 800,000 cyber crime-related complaints filed in 2022.
Meanwhile, total losses were over $10 billion, shattering 2021's total of $6.9 billion, according to the bureau's Internet Crime Complaint Center (IC3)..
Drawing on these population estimates, the total economic impact of pure cybercrime in 2019 was approximately $3.5b.
This encompasses $1.9b in money directly lost by victims, $597m spent dealing with the consequences of victimisation, and $1.4b spent on prevention costs.
Victims recovered $389m..
No industry is untouched by the growing cost of cybercrime—the report notes that organizations have seen security breaches grow by 67% in the past five years alone.
Banking is the most affected, with annual costs crossing $18 million in 2018.
This probably comes as no surprise, considering that financial motivesare consistently a major incentive fo.
The staggering figure means that around 1% of global GDP is lost to cybercrime, as across 2020, $945 billion was lost as a result of cyber incidents, with a further $145 billion spent on cybersecurity efforts.
These figures represent an increase of more than 50% when compared to 2018 when just over $600 billion was spent on mitigating cybercrime.
US cybercrime costs $3 billion annually, according to the FBI.
In 2019, the global economy is expected to grow by $5 billion.
It is possible that the actual toll could be much higher since exploits and intrusions go unnoticed often.
Cyber crime has a much larger impact on society than simply forcing company-wide password resets - it costs the U.S. economy an estimated $70 billion to $140 billion annually, and skewers more than 500,000 jobs.
The results are based on a joint study from the Center for Strategic and International Studies (CSIS) and McAfee.
The infographic focuses on data from the latest Accenture“Cost of Cybercrime” study, which details how cyber threats are evolving in a fast-paced digital landscape.
Overall, the average annual cost to organizations has been ballooning for all types of cyberattacks.
For example, a single malware attack in 2018 costed more than $2.6 million, while ra.
View the high resolution of this infographic by clicking here.
What do Equifax, Yahoo, and the U.S. military have in common.
They’ve all fallen victim to a cyberattack at some point in the last decade—and they’re just the tip of the iceberg.
Today’s infographic from Raconteurdelves into the average damage caused by cyberattacks at the organizationa.
Think about it.
A cyber attack leads to a huge loss of profit and productivity but thousands of dollars in fees.
Not to mention the loss of business that follows.
The average cost from damage or theft of IT assets and infrastructure increased from $879,582 in 2016 to $1,027,053 in 2017.
