Post Thu Jan 29, 2009 9:47 am

Cybercrime costs$1 trillion globally

Cybercrime costs firms $1 trillion globally, McAfee study says

Data theft and breaches from cybercrime may have cost businesses as much as $1 trillion globally in lost intellectual property and expenditures for repairing the damage last year, according to a new study from McAfee.

McAfee made the projection based on responses to a survey of more than 800 chief information officers in the U.S., United Kingdom, Germany, Japan, China, India, Brazil, and Dubai.

The respondents estimated that they lost data worth a total of $4.6 billion and spent about $600 million cleaning up after breaches, McAfee said.