In addition, nation state industrial intellectual property theft and economic espionage has eroded our global competitive advantage in several industry segments. Ellen Nakashima explains:
A Washington think tank has estimated the likely annual cost of cybercrime and economic espionage to the world economy at more than $445 billion — or almost 1 percent of global income.
The estimate by the Center for Strategic and International Studies is lower than the eye-popping $1 trillion figure cited by President Obama, but it nonetheless puts cybercrime in the ranks of drug trafficking in terms of worldwide economic harm.
“This is a global problem and we aren’t doing enough to manage risk,” said James A. Lewis, CSIS senior fellow and co-author of the report, released Monday.
Changing peoples behavior inside your own business will require substantial oversight and continuous education. Remain vigilant at the risk of your organizations own peril!