Global Cybercrime Based Economy Generates Over $1.5 Trillion According To New Study

New study reveals that $1.5 trillion is the total generated by cybercriminals, with headline figures as follows.

Illicit, illegal online markets = $860 billion
Trade secret, IP theft = $500 billion
Data trading** = $160 billion
Crimeware/CaaS (Cybercrime-as-a-Service) = $1.6 billion
Ransomware*** = $1 billion
Total Generated by Cybercrime = $1.5 trillion
*totals are approximate
**Revenues derived from trading in stolen data, such as: credit and debit
card information banking login details, loyalty schemes and so on
***Revenues derived from extortions based on encrypting data and
demanding payments

Download report here:

Ilia Kolochenko, CEO at High-Tech Bridge commented below.

Ilia Kolochenko, CEO at High-Tech Bridge:

“The report is perfectly correct that the cybercrime has undoubtedly became a very profitable and sustainable business that no government can control now.”

However, it may have missed some figures because: “The most serious cybercrimes, such as nation-state attacks or offensive operations from large conglomerates against competitors – are rarely detected or exposed in any manner. Publicly accessible platforms in the Dark Web have a lot of scam and fake ads intertwined with law enforcement honeypots.”

And the fight against cybercrime isn’t getting easier: “Professional Black Hats usually have inconspicuous private platforms, lawfully hosted in AWS or Azure, with full encryption of all data. You cannot get access unless you are a long-standing and verified partner.”

Ilia concludes: “Nothing is less certain than global cybercrime size and volume.”

Experts Comments

Stay Tuned! Our Information Security Experts Community is responding .....

Submit Your Expert Comments

What do you think of the topic? Do you agree with expert(s) or share your expert opinion below.
Be part of our growing Information Security Expert Community (1000+), please register here.

Write Your Expert Comments *
Your Registered Email *
Notification Email (If different from your registered email)
* By using this form you agree with the storage and handling of your data by this web site.