By 2021 Cost of Cybercrime to Top Annual Natural Disasters and Global Drug Trade Costs, Says Report

By 2021, it is estimated that cybercrime will cost the global economy more than $6 trillion in damages, exceeding annual costs for natural disasters and the global drug trade. In a report released on Monday, Arkose Labs says it analyzed over 1.2 billion transactions including account registrations, logins and payments from financial services, e-commerce, travel, social media, gaming and entertainment industries, in real-time and found that one in 10 transactions are attacks, ranging from automated bots to malicious humans. Arkose reports:

— The Philippines is the Top Attack Originator: "U.S., Russia, the Philippines, U.K. and Indonesia have emerged as the top originators of attacks, with the Philippines as the single biggest attack originator for both automated and human driven attacks and the U.S. a distant second."