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There's Nowhere to Hide from the Economics of Cybercrime

Cybercrime cost the global economy as much as $600 billion in 2017. New technologies and connections mean new threats to some countries and new opportunities to others. Cybercrime impacts nearly every location on the globe. The first step to fighting it is understanding its scope and reach. McAfee, an industry leader in device-to-cloud security, teamed up with the Center for Strategic and International Studies (CSIS) to study the global economic impact of cybercrime. The costs vary by location, income levels, cybersecurity maturity, and other variables.

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North America

.78% GDP cybercrime loss1
$157.5 billion

USA

$1 billion in cybersecurity insurance sold in 2016
$209 million ransom paid in Q1 2016
$11 billion in intellectual property theft annually

1 "Economic Impact of Cybercrime 2018", McAfee, average in range

Canada

45% increase in cybercrime from 2014 - 2016
Nearly 50% of SMBs are victims of a cyber-attack

Mexico

Estimated $3 billion in economic damages

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Europe & Central Asia

.84% GDP cybercrime loss1
$170 billion

Germany

$64 billion cybercrime damages per year
Most developed criminal underground in the EU

1 "Economic Impact of Cybercrime 2018", McAfee, average in range

United Kingdom

Online fraud and cybercrime are the most common crimes
More than $5.5 million in yearly offenses—accounts for half of all crime

Russia

Lead cybercrime perpetrator
1.2 billion email usernames and passwords acquired by one group

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East Asia & the Pacific

.71% GDP cybercrime loss1
$160 billion

Australia

114,000 instances of cybercrime since 2014
Almost 24,000 in the first half of 2017

1 "Economic Impact of Cybercrime 2018", McAfee, average in range

China

Most active in espionage

Japan

Record 70,000 cybercrime reports in 2017

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South Asia

.38% GDP cybercrime loss1
$11 billion

1 "Economic Impact of Cybercrime 2018", McAfee, average in range

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Latin America & the Caribbean

.425% GDP cybercrime loss1
$22.5 billion

Brazil

54% of cyberattacks originate from within the country
95% of Brazilian bank losses is cybercrime

1 "Economic Impact of Cybercrime 2018", McAfee, average in range

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Sub-Saharan Africa

.135% GDP cybercrime loss1
$2 billion

1 "Economic Impact of Cybercrime 2018", McAfee, average in range

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Middle East & Northern Africa

.11% GDP cybercrime loss1
$3.5 billion

United Arab Emirates

Second most targeted country in the world for cyberattacks
$1.4 billion in cybercrime damages per year

1 "Economic Impact of Cybercrime 2018", McAfee, average in range

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Before you can fight it, you need to understand it.

A low-risk crime that can deliver huge payoffs, cybercrime is relentless, impacting hundreds of millions of people every year. The costs are steep, from compromised intellectual property, personal, and business information, to damaged reputations and lost opportunities. And as people and things get more connected, threats become more sophisticated, employing cloud technology, artificial intelligence (AI), software-as-a-service, encryption, and other advanced technologies.

Don't be part of the next wave.

If you're serious about mitigating cybercrime, you need insight into how today's advanced threats can impact the regions where you're doing business. To get up to speed on today's global trends—and learn how you can take action—download our report.

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