Today’s world is more interconnected than ever before. But increased connectivity has increased risk of theft, fraud, and abuse. As people become more reliant on modern technology, they also become more vulnerable to cyber attacks, as criminals exploit the speed, convenience, and anonymity of the Internet.
In a report released earlier this year, the Center for Strategic and International Studies, a Washington think tank, estimated that cybercrime costs the global economy more than $45 billion annually, with the more advanced economies, such as the United States, Germany, and China bearing the brunt of the cost.
According to a recent report from Rand Corporation, a nonprofit think tank, “today, malicious hackers have the upper hand. The maturation of cybercrime markets threatens individuals, businesses, law enforcement agencies, national governments, and military services around the world. The deleterious effects on cybersecurity suggest the need for coordinated efforts across the private and public sectors, nationally and internationally, to suppress the black market activity.” The report identifies several strategies to fight cybercrime. Click here to learn about these strategies and read the full report.