United States: Rising costs of cyber attacks

Cybercrime would cost the US economy, 445 billion USD annually. This is the conclusion of a recent report published by the Hamilton Place Strategies consulting firm.

The median cost of a cyber attack has increased by nearly 300% over the past five years, from 3.8 million USD in 2010 to 11 million USD in 2015.
Since 2005, 820 million cases of data breaches have been recorded in the United States with 85 million cases solely for 2014.

The costs related to the reputational loss risk have become more important than those caused by direct damage. In terms of scale, the 445 billion USD attributable to potential losses represents a figure higher than the market value of companies such as Exxon Mobil, Microsoft and Berkshire Hathaway, respectively ranked second, third and fourth market capitalized companies in the United States.
Only Apple, with 647.4 billion USD of market capitalization in 2014, exceeded the cost of cybercrime.

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