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The Economic Impact of Cybercrime and Cyber Espionage
Report

The Economic Impact of Cybercrime and Cyber Espionage

CSIS, 2013

áudio gerado automaticamente
áudio gerado automaticamente

Editorial Rating

7

Qualities

  • Analytical
  • Innovative
  • Background

Recommendation

Cybercrime and espionage wreak havoc on the global economy. Figuring out the price of cybercrime is a challenge because researchers are faced with incomplete data, skewed surveys and questionable assumptions. James Lewis and Stewart Baker of the Center for Strategic and International Studies built a new model based on real-world analogies that puts the cost to the US economy at $100 billion a year. Though their workings are somewhat opaque, getAbstract recommends their analysis to business leaders who strive to protect their firms from the perils of cybercrime.

Take-Aways

  • Estimates of the cost of cyber attacks vary widely. Some losses, such as intellectual property (IP), are difficult to evaluate, and victims are rarely fully aware of what the criminals have taken.
  • Accurately estimating cybercrime’s potential losses requires a new model that compares and contrasts cybercrime with real-world crimes.
  • The costs of cyber attacks can manifest in six ways: as dollar costs, loss of IP, loss of sensitive business data, missed business opportunities, spending on “cybersecurity,” and reputational damage.

About the Authors

James Lewis is a director and senior fellow at the Center for Strategic and International Studies (CSIS). Stewart Baker is a CSIS fellow and a partner at Steptoe & Johnson LLP.


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