Bank of America: Cybercrime Could Be ‘World’s Third-Largest Economy’
SMRTR summary
Cybercrime damage is now equivalent to the world's third-largest economy, with 60% of organizations hit by ransomware in 2023. The average ransomware payment increased fivefold, while the cost of data breaches rose 10% in 2024, highlighting the growing financial impact of cyberattacks as digitization and AI advance.
SMRTR provides this summary for quick context. The original article belongs to PYMNTS.
Read the original article