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Cybercrime Costs Set To Reach $10 Trillion By 2025 | RJR News | #cybercrime | #computerhacker

By Javaughn Keyes


Cybercrimes are expected to be worth five times transnational crimes by 2025.


Speaking recently at the local launch of cyber security management firm CYBEREYE, tech expert Trevor Forrest said for 2021 to 2022, transnational crime was worth $2.2 trillion. In comparison, cybercrimes were valued at US$16.4 billion per day or $6 trillion for the year. 


“By 2025, that $6 trillion is expected to be $10 [trillion], which makes cybercrime the third largest global economy next to the US and China. After the US and China, you have Germany and Germany is only $4 trillion,” Mr. Forrest outlined. 


Meanwhile, head of CYBEREYE Ian John said the company’s expansion to Jamaica is part of plans to help strengthen the regional cyber security defence. 


“Our tools are not off the shelf packages. There is a risk to off the shelf packages. Obviously, the cyber threat actors have access to these and they also spend time studying them and breaking them and understanding the vulnerabilities. So what we are doing is we are bringing that sort of robust military-grade type technology to the Caribbean and of course ensuring that it is affordable by even the SMEs, even the large corporations and the governments,” he said. 


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