Cyber Crime Will Cost the World Trillions by 2021

By:  |  Category: Blog, Security Thursday, December 20th, 2018  |  No Comments
cyber crime

When Frank Abagnale gives you a warning about cyber crime, it’s a good idea to listen.

Frank W. Abagnale, an FBI consultant for over 40 years and one of the world’s most respected authorities on forgery, embezzlement, and secure documents, concurs with the $6 trillion cybercrime damage cost prediction. “I’m very concerned with cyber starting to turn very dark,” says Abagnale, the inspiration for Steven Spielberg’s 2002 film, Catch Me If You Can, starring Leonardo DiCaprio as Abagnale and Tom Hanks as the FBI agent fast on his heels. “Up until now it’s just a financial crime for the purpose of stealing money – or stealing data that is money – but we have the ability now to turn someone’s pacemaker off.”

According to Cybersecurity Ventures and numerous other sources, cybercrume is the greatest threat to every company in the world, and one of the biggest problems with mankind. The impact on society is reflected in the numbers.

In August of 2016, Cybersecurity Ventures predicted that cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, and will be more profitable than the global trade of all major illegal drugs combined.

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