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Daily Review: Cybercrime Costs the World $600 Billion

The economic impact of cybercrime grows every year, even though the technology to tackle the issue gets increasingly sophisticated. The Center for Strategic and International Studies (CSIS) in cooperation with McAfee reports that one major internet service provider (ISP) sees 80 billion malicious scans a day, the result of automated efforts by cybercriminals to identify vulnerable targets. Many researchers track the quantity of new malware released, with estimates ranging from 300,000 to a million viruses and other malicious software products created every day.

The recent study published by two organizations estimated that the economic cost of cybercrime to the world came close ...

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