Cybercrime May Be the World’s Third-Largest Economy by 2021

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As organizations go digital, so does crime. Today, cybercrime is a massive business in its own right, and criminals everywhere are clamoring to get a piece of the action as companies and consumers invest trillions to stake their claim in the digital universe.

Putting things into perspective: Walmart, which racks up America’s greatest firm earnings, generated a mind-blowing $514 billion in revenue last year. Yet cybercrime earns 12 times that. Both sell a huge variety of products and services. In fact, in terms of earnings, cybercrime puts even Tesla, Facebook, Microsoft, Apple, Amazon, and Walmart to shame. Their combined annual revenue totals “just” $1.28 trillion. 

Cybercrime is undergoing an industrialization wave and offers everything that a regular legal company does: product development, technical support, distribution, quality assurance, and even customer service. Cybercriminals rob and then sell new technologies or secret strategic plans that will give their buyers an edge over their competitors. Hackers steal military secrets, renewable energy innovations, and more. 

Read more in

https://www.darkreading.com/vulnerabilities—threats/cybercrime-may-be-the-worlds-third-largest-economy-by-2021/a/d-id/1337475

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