Malicious Cyber Activity Costs US up to $109 billion in 2016
Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, the White House Council of Economic Advisers estimated in a report on Friday.
The report quoted the U.S. intelligence community as saying the main foreign culprits responsible for much cyber activity against U.S. targets are Russia, China, Iran and North Korea.
But it also said malicious cyber activity is not limited to foreign actors. Corporate competitors, activists seeking to advance a political agenda and organized crime are also responsible, it said.
The report said effective public- and private-sector efforts to combat the illicit activity would contribute to gross domestic product growth.
2018 is starting off with daily cyber attacks. Is your business prepared?