Question

Question: Assume an economy has fallen victim to cybercrime, briefly discus some of the major effects this may have on a given economy.

Answer 1

The growing cybercrime incidents now cost the world economy more than $1 trillion, or just more than one per cent of global GDP, which is up more than 50 per cent from a 2018 report that put global losses at close to $600 billion, leading cybersecurity firm McAfee revealed on Monday.