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CYBERCRIME EXPECTED TO SKYROCKET IN COMING YEARS


CYBERCRIME

by Anna Fleck,  
Dec 2, 2022
Crime worldwide

According to estimates from Statista’s Cybersecurity Outlook, the global cost of
cybercrime is expected to surge in the next five years, rising from $8.44
trillion in 2022 to $23.84 trillion by 2027. Cybercrime is defined by Cyber
Crime Magazine as the “damage and destruction of data, stolen money, lost
productivity, theft of intellectual property, theft of personal and financial
data, embezzlement, fraud, post-attack disruption to the normal course of
business, forensic investigation, restoration and deletion of hacked data and
systems, and reputational harm.”

As more and more people turn online, whether for work or their personal lives,
there are more potential opportunities for cyber criminals to exploit. At the
same time, attacker techniques are becoming more advanced, with more tools
available to help scammers. The coronavirus pandemic saw a particular shift in
cyber attacks, as Statista’s Outlook analysts explain: “The COVID-19 crisis led
to many organizations facing more cyberattacks due to the security vulnerability
of remote work as well as the shift to virtualized IT environments, such as the
infrastructure, data, and network of cloud computing.”

Read more on the costliest cyber attacks here.



Anna Fleck

anna.fleck@statista.com






Description

This chart shows the expected cost of cybercrime until 2027.

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<a
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title="Infographic: Cybercrime Expected To Skyrocket in Coming Years |
Statista"><img
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