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Future cyberattacks could cost a lot more than WannaCry and NotPetya

$53 billion

Cyberattacks could cause up to $53 billion in economic losses, according to estimates by insurance market Lloyd’s of London.

Published   |  Photo by EPA/Rob Engelaar
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$53 billion

Lloyd’s and risk-modeling firm Cyence estimated the financial cost of two hypothetical attacks.

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$53 billion

An attack starting from a cloud service and causing system crashes around the world could cost between $5 billion and $53 billion.

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$53 billion

A global attack consisting of hacks of operating systems could cost between $10 billion and $29 billion.

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$53 billion

The economic impact include lost income due to business interruptions and money spent with computer repairs, among others.

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$53 billion

Those amounts are much higher than the financial costs of the WannaCry attack in May ($8 billion) and the NotPetya attack in June ($850 million).

Published

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