{"id":10579,"date":"2021-06-22T07:00:00","date_gmt":"2021-06-22T15:00:00","guid":{"rendered":"https:\/\/formtek.com\/blog\/?p=10579"},"modified":"2021-03-05T08:15:57","modified_gmt":"2021-03-05T16:15:57","slug":"security-the-hidden-costs-of-cybercrime","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/security-the-hidden-costs-of-cybercrime\/","title":{"rendered":"Security: The Hidden Costs of CyberCrime"},"content":{"rendered":"\n

Cybercrime comes with a global cost <\/a>of more than $1 trillion dollars, up 50 percent from 2018, according to data from McAfee and the Center for Strategic and International Studies.<\/p>\n\n\n\n

Steve Grobman<\/a>, SVP and CTO at McAfee, said that<\/a> “the severity and frequency of cyberattacks on businesses continues to rise as techniques evolve, new technologies broaden the threat surface, and the nature of work expands into home and remote environments. While industry and government are aware of the financial and national security implications of cyberattacks, unplanned downtime, the cost of investigating breaches and disruption to productivity represent less appreciated high impact costs. We need a greater understanding of the comprehensive impact of cyber risk and effective plans in place to respond and prevent cyber incidents given the hundreds of billions of dollars of global financial impact.”<\/p>\n\n\n\n

Intangible costs of cybercrime include:<\/a><\/p>\n\n\n\n