![]() The World Economic Forum 2020 Global Risk Report confirmed that organized cybercrime groups are joining forces to commit criminal activities online, while estimating the likelihood of their detection and prosecution to be less than 1 percent in the US. ![]() In 2018, a study by the Center for Strategic and International Studies (CSIS), in partnership with McAfee, concluded that nearly 1 percent of global gross domestic product (GDP), close to $600 billion, is lost to cybercrime each year. Approximately $1.5 billion was lost in 2012 to online credit and debit card fraud in the US. Ī 2014 report sponsored by McAfee estimated that cybercrime had resulted in $445 billion USD in annual damage to the global economy. Warren Buffett describes cybercrime as the "number one problem with mankind" and said that it "poses real risks to humanity". Cybercrimes crossing international borders and involving the actions of at least one nation-state are sometimes referred to as cyberwarfare. Internationally, both state and non-state actors engage in cybercrimes, including espionage, financial theft, and other cross-border crimes. Cybercrime may harm someone's security or finances. ![]() The computer may have been used in committing the crime, or it may be the target.
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