Friday, January 27, 2023

Cybercrime Now Bigger Than Illegal Drug Trade

The Register: Security vendor Norton has issued a new report which claims that cybercrime costs the global economy more than the illegal trade in marijuana, heroin and cocaine does. The report authors say that cybercrime results in direct costs of $114 billion and indirect costs of $274 billion, for a total of $388 billion. By comparison, they say the black market trade for those three illegal drugs costs  the economy $288 billion.

The report also claims that 14 adults become cybercrime victims every second.

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