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McAffee Report: The Hidden Costs of Cybercrime

The recently published McAffee Report, “The Hidden Costs of Cybercrime” is a sobering and insightful analysis of the current state of this problem.

Here are the first couple of paragraphs in the Executive Summary, “Since 2018, we estimated that the cost of global cybercrime reached over $1 trillion. We estimated the monetary loss from cybercrime at approximately $945 billion. Added to this was global spending on cybersecurity, which was expected to exceed $145 billion in 2020. Today, this is $1 trillion dollar drag on the global economy.”

McAffee Report :The Hidden Costs of Cybercrime

Additional Reading:

https://www.businesswire.com/news/home/20201206005011/en/New-McAfee-Report-Estimates-Global-Cybercrime-Losses-to-Exceed-1-Trillion

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Ron Alvarez is an IP Investigations / Protection writer and licensed private investigator in New York City. He is a former NYPD lieutenant where he investigated robbery, narcotics, internal affairs, and fine art theft cases. Ron is a graduate of the FBI National Academy and earned a B.A. in Government and Public Administration from John Jay College of Criminal Justice in Manhattan. He has published a number of articles on various investigative topics for PI Magazine. Ron is certified by the Interpol-International IP Crime Investigators College (IIPCIC.) as a "Transnational and Organized Crime Intellectual Property (IP) Investigator."

1 comment on “McAffee Report: The Hidden Costs of Cybercrime

  1. THOMAS MANLEY

    THANK YOU RON
    Fascinating and frightening article from McAfee
    Good Work
    Godspeed
    Tom Manley Special Agent FBI – Retired

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