Global cybercrime costs billions, new estimates suggest

Cybercrime and espionage could be costing the world between $70 billion and $400 billion a year from a total global economy of $70 trillion, a new estimate by the Center for Stategic and International Studies (CSIS) has calculated. In the context of the U.S. economy, the damage caused by it is possibly equivalent to 500,000 jobs displaced but in truth the McAfee-sponsored study The Economic Impact of Cybercrime and Cyber Espionage admits that even coming up with these numbers is prone to be defe...