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:
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.”
The opinions expressed in this post belongs to the individual contributors and do not necessarily reflect the views of Information Security Buzz.