|22 Feb 2014||#1|
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Cyberattacks fallout could cost the global economy $3 trillion by 2020
The global risk of cyberattacks is a real and growing threat, and could carry a whopping price tag, says McKinsey & Company in a report on enterprise IT security implications released in January 2014.
What kind of risk? Organizations worldwide are not "sufficiently protected" against cyberattacks, says McKinsey in its "Risk and responsibility in a hyperconnected world" report.
As a result, the price tag—the material effect of slowing the pace of technology and innovation due to a lack of cyberresiliency—could be as high as $3 trillion by 2020. That's the number three, by the way, followed by 12 zeros. And it's a scenario, asserts McKinsey, that senior leadership in the public and private spheres had best pay attention to.
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