Costs nearly double to $7 billion since COVID-19.
By The Center for Accounting Transformation
According to data from the Federal Bureau of Investigation, the total cost of cybercrime from 2019 to 2021, skyrocketed from $3.5 billion to $6.9 billion, essentially doubling since COVID-19.
That includes international businesses.
Mitchell Scherr, CEO, Assured Cyber Protection, mentioned to TechRadar.com that “March saw a staggering 400% global increase in cyberattacks.” Additionally, an August 2020 report from INTERPOL stated “in one four-month period (January to April), some 907,000 spam messages, 737 incidents related to malware and 48,000 malicious URLS – all related to COVID-19- were detected by one of INTERPOL’s private sector partners.” Parachute, an IT company, estimates cybercrime cost the global economy about $1 trillion last year.
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