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Crybercrime Victims Lose an Estimated $318 Billion Annually

– Comparitech

The underreporting of cybercrime has caused difficulty in estimating monetary losses

This insightful report investigates the monetary costs of cybercrime, and how the US, Brazil, UK, and Russia have experienced the greatest losses. It further explores current cybercrime trends to reveal whether it is on the rise and which places are most vulnerable.

"According to our estimates, over $129 billion has been lost to the victims of cybercrime across the 67 countries we’ve covered. Globally, this amounts to $318 billion."

These figures are often unexplored due to discrepancies between countries in the reporting and recording of cybercrime. This can drastically affect harm estimations and the lack of transparency causes further problems in the identification and prevention of cybercrime.

Cybercrime is still severely underreported by police and government entities and the true monetary value remains largely unknown

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