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: https://blogs.bromium.com/free-report-complex-cybercrime-economy/

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.”

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