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Cyberattacks Cost Businesses Big, and Could Get Worse

by Steven Anderson | Mar 19, 2018
A recent White House report spells out bad news for Cybersecurity.

The latest word out of the White House isn’t good news for anybody doing business online. It turns out, the reports noted, that just in 2016, cyberattacks cost the United States as a whole somewhere between $57 and $109 billion. Such figures should have businesses reconsidering their security picture closely.

Granted, the newest reports interpret the term “cyberattack” about as broadly as possible, including everything from denial of service attacks to theft of intellectual property, as well as the more standard fare like data breaches and theft of sensitive information. But the figures were bad enough on their own to prompt suggestions that, if things got much worse, it could represent a “spillover” issue for the broader overall economy.