The cost of cybercrime and cyber espionage in the U.S. could reach $100 billion annually, according to a report by cyber-security company McAfee and Washington's Center for Strategic and International Studies.
The predicted amount—admittedly a "rough guess"—is far lower than previous estimates by McAfee of $1 trillion, but the firm says although the estimate will grab headlines, the "heart of the matter is in the effect on trade, technology and competitiveness."
The report becomes a call for better data to come up with a more precise figure for the cost of cybercrime and cyber espionage. Attaching a number to the costs associated with these types of crimes is currently "unattainable," the report says.
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