WOW! $2.9 Million lost to Cybercrime every minute last year (think $1.5 Trillion for the year)!

26 July 2019 Internet, IT & e-Discovery Blog Blog
Authors: Peter Vogel

RiskIQ reported that it “tapped proprietary global intelligence and third-party research to analyze the volume of malicious activity on the internet, revealing that cybercriminals cost the global economy $2.9 million every minute last year, a total of $1.5 trillion.”  The July 24, 2019 report entitled “In Just One Evil Internet Minute Over Two Phish Are Detected And $2.9 Million Is Lost To Cybercrime, Reveals RiskIQ” and included these malicious activities which RiskIQ refers to the annual “Evil Internet Minute”:

$1,930: the cost of hacks on cryptocurrency exchanges every minute

$17,700: lost from phishing attacks per minute

$22,184: the projected by-the-minute cost of global ransomware events in 2019

8,100: identifier records compromised every minute

7: malicious redirectors detected each minute

2.4: phish traversing the internet per minute

0.32: blacklisted apps by-the-minute

0.21: Magecart attacks detected every minute

Unfortunately I’m sure that no one is surprised by this news!

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