CDSA

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

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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.