THE RISE IN CYBER CRIME: WHAT IS IT COSTING BUSINESSES?
Explore how the rise of cybercrime is affecting business in different countries The pandemic has caused more and more people to spend time on their computers. Thanks to remote work and poor security measures surrounding the hybrid office, IT and network professionals saw a sharp rise in cybercrimes that’s unlikely to dip in the next five years. In fact, several cybersecurity ventures predict that global cybercrime costs will rise by 15% in five years . That brings the total cost to $10.5 trillion by 2025, a deeply concerning number. How Cybercrime is Affecting Businesses Based on Country The following five countries are going to be lead players in the cybersecurity market and largely contribute to the $10.5 trillion dollar loss we expect to see in the next five years. Cyber Crime in America In 2020, the average cost to businesses affected by cybercrime amounted to $8.64 million . As the trend keeps rising upward, it’s getting harder for American companies to stay on top of it. W