What Could a Global Cyberattack Cost? Sky’s the Limit (Silicon Republic)


Global cyberattacks could see economic losses in the tens of billions of dollars, according to Lloyd’s of London.

Admittedly, this is coming from a company that provides insurance for such grim possibilities, but it would appear that the growing threat, and reality, of cyberattacks is only heading one way.

Lloyd’s and Cyence – a risk-modelling firm – have warned of such significant losses in a new report.

Those losses could reach $121B in what the duo see as the worst-case scenario. Through looking at various cyberattacks, however, they settled on an average cost of around $53B, should a truly global attack succeed.