The Hidden Costs of Cybercrime

Overview: 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. This is our fourth report on the cost of cybercrime. Our reports surveyed publicly available information on national losses, and, in a few cases, we used data from not-for-attribution interviews with cybersecurity officials. Our 2018 report found that cybercrime cost the global economy more than $600 billion. Our new estimate suggests a more than 50% increase in two years.