The Annual Cost of U.S. Cybercrime Could Top $100 Billion

Nextgov: The U.S. economy loses between $57 billion and $109 billion per year to malicious cyber activity, according to an estimate published Friday by the White House Council of Economic Advisers.

That’s between 0.3 and 0.6 percent of the value of all the country’s goods and services, the study states.

That estimate “likely amount[s] to only a small fraction of the cost that the U.S. economy may incur if the United States were to enter a large-scale conflict in cyber space,” such as a major cyberattack on the financial services sector or the energy grid, the report notes.

Read article