An Alarm­ing Look at the Num­bers In­volved in Cy­ber­crime

Distinguished Magazine - - CONTENTS - MADHUSUDHANAN SRIDARAN

Con­ser­va­tive es­ti­mates ex­pect a profit in ex­cess of 1.5 tril­lion US$ to be gen­er­ated by cy­ber­crime ac­tiv­i­ties in 2018. Here’s a shock­ing statis­tic that’s hard to swal­low: If cy­ber­crime were a na­tion state like the U.S.A., Canada, and In­dia, it would have the 13th largest GDP in the en­tire world. Con­ser­va­tive es­ti­mates ex­pect a profit in ex­cess of 1.5 tril­lion US$ to be gen­er­ated by cy­ber­crime ac­tiv­i­ties in 2018. It’s worth high­light­ing once again, that these are con­ser­va­tive es­ti­mates. The ac­tual dam­ages done to so­ci­ety might be a lot more ex­pen­sive.

With the ad­vent of our al­ways-on­line, con­nected 24/7 life­styles, cy­ber­crime has be­come a pun­gent men­ace; it is an op­por­tunis­tic crime that is very dif­fi­cult to pin­point due to its very na­ture and ex­e­cu­tion be­ing un­der the radar. Un­sus­pect­ing vic­tims usu­ally do not find out that their data has been com­pro­mised, un­til it is too late.

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