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Cyber hacks cost up to $109 billion in 2016, U.S. estimates

Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, the White House said Friday.

By Jennifer Epstein, Shelly Hagan | Updated on February 16, 2018

(Bloomberg) –Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, the White House said Friday.

The estimate comes in a Council of Economic Advisers (CEA) report on the impact of cyber attacks on U.S. government and industry. The report details the range of threats that U.S. entities face from actors, including corporations and countries such as Russia, China, Iran and North Korea.

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