The Cost of Viruses and Cyber attacks is enormous
Precise figures on this very sensitive issue are difficult to assess. However, the trend is very clear. This type of crime has increased exponentially and will put a heavy strain on the economy. Indeed, cyber crime costs are projected to reach € 2 Trillion globally by 2019. For his part, the EU security commissioner J. King stressed that cyber crime cost the European economy nearly € 64 Billion in 2016. We would also mention that several participants at the World Economic Forum in Switzerland highlighted that a significant portion of cyber crimes goes undetected and in particular in the area of industrial espionage. Consequently, the bill to be paid is even much more costly. Not surprisingly, German companies view cyber attacks as a greater threat than terrorism. Today, these 2 areas of activity can be closely linked. In fact, 69% of these companies have been the victims of data theft and economic espionage over the past 2 years (Fig. Bitkom). Worse still, 53% of the 3000 companies assessed in the US, UK and Germany were ill-prepared to deal with such an attack (Report Hiscox). And another study reveals that Finance, ICT and energy sectors have the highest incident costs (Report ENISA). It is thus imperative that firms across the globe urgently improve their cyber security. This includes much more investment in computer network defense and first and foremost a massive hiring process of highly qualified engineers assigned to the cyber defense. Of course, it is going to cost. But the return on investment is guaranteed!