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What it is total cost of cyber attacks, $500 billion worldwide?

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asked Nov 1, 2016 in Software by macdonald.chipunza Guru (88,070 points)  
It is being claimed that the total cost of cyber attacks on businesses can be as big as over $500 billion world wide. This number is difficult to verify but there might be some truth in it.

Imagine last week when news came out that a Chinese manufacturer of webcams was recalling because of the vulnerability which was discovered via cyber attacks. The total cost was over $1,1 million, this is just one manufacture, how many more suffered silently and at what total cost?

Here in our motherland, ICT Minister is trying his best to cultivate digital growth by promoting the local minds. Should this be successful, it means in the near future which is not far, Zimbabwe will have a digital economy. Digital economy is the future, but it also comes with the bad and ugly like cyber hacks and ransomwares

Also, with this shortage of cash, RBZ is encouraging plastic money which again tilts towards digital economy.
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