GLOBAL COST OF CYBER CRIME PUTS AT OVER $1BILLION DOLLARS.

Computer security software giant McAfee in a recent report revealed that global loses from cyber crime now total over 1 trillion US dollars which is an increase of over 50% from 2018. Reports from McAfee shows that two-thirds of all the companies surveyed reported some kind of kind of cyber incident in 2019. IP theft and financial crime account for atleast 75% of cyber losses and pose the greatest threats to companies. Damages to companies also including down time brand reputation and reduced efficiency. 56% of surveyed organizations also said they do not have a plan to either prevent or respond to a cyber incident.

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