Global Cybercrime Costs to reach US$8 trillion annually in 2023

Cybersecurity Ventures 2022 predicts that the cost of global cybercrime losses will be US$8 trillion in 2023. The cost of damages is expected to increase by 15% annually over the following three years, reaching US$10.5 trillion annually by 2025. Cybersecurity Ventures states that cybercrime losses include damage and destruction of data, theft of personal and financial data, forensic investigation, and hacked data systems, among others. Lastly, the cost predicted in 2023 are estimated to be: US$8 trillion per year, US$667 billion per month, US$154 billion per week, US$21.9 billion per day, US$15.2 million per minute, and US$255,000 per second.