Topic: Cybercrime Costs U.S. $117 Billion Annually

[Security l33t]

A new report estimates that cybercrime costs the U.S. over $117 billion annually – and the real figure might be much greater.

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However, according to David A. Powner, GAO Director of IT Management Issues and lead author of the report, much cybercrime is unreported or underrepoted, while yet more is completely undetected. Some banks reportedly experience $1 million a month in losses from phishing, for instance.

Serisously 117 Billions, GOD!