According to a recent study by security company McAfee, the economic losses caused by cybercrime amount to $400 billion annually.
This amount is enough to send three international space stations into orbit, as the cost of such a station is around 150 billion. But this is a small amount for cybercriminals, who financially harm not only the tycoons, but also hard workers.
Furthermore, according to research commissioned by McAfee at the Center for Strategic and International Studies (CSIS), cybercrime “impacts” 200,000 jobs in the US and 150,000 jobs in the European Union.
McAfee funded the research to show the world that the “cost of cybercrime comes from damage to businesses and national economies.” This effect is particularly felt in developed countries, where information related to businesses’ intellectual property is an obvious target for cybercriminals.
In Britain, cybercrime cost retailers more than $850 million, researchers say.
“For developed countries, cybercrime has serious employment implications. The effect of cybercrime is to shift employment away from the jobs that generate the most profit. Even small changes in GDP can affect employment.”
Researchers say the Internet economy generates revenues ranging between $2 to $3 trillion annually, but cybercrime may account for 15 to 20 percent of the value created by digital businesses.
