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Approximately $1 trillion security issues and cyber-crime cost the world on an annual basis.
Because both individuals and corporations frequently experience cyberattacks, cybercrime has a significant financial impact on all countries. Security company McAfee projects a $1 trillion yearly cost for 2020, which accounts for both the losses themselves and the cost of cybersecurity.
According to McAfee's analysis, "The Hidden Costs of Cybercrime," the annual financial loss from cybercrime will be $945 billion by 2020. This kind of crime will cost the global economy $1 trillion this year when you factor in the $145 billion that is anticipated to be spent on cybersecurity. This amount will be greater than half of the $600 billion in costs incurred overall in 2018.
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