A new report by the Council on Economic Advisers released last week said “malicious cyber activity” took a toll on the economy anywhere between $57 billion and $109 billion in 2016. It also pinpoints China, Iran, North Korea, and Russia as primary nation-state actors among a variety of groups identified in the report identified as cyber attackers.
In addition to nation-states, the report breaks down the threats as “corporate competitors,” “hacktivists,” “organized criminal groups,” “opportunists,” and “company insiders.”
Identifying the threat is one thing, but mitigating it is something else. The report noted that firms can share common vulnerabilities, but understanding these vulnerabilities is often limited, which can impede prevention and insurance efforts.
The report is choc full of data, including identifying “cost components of an adverse cyber event,” as well as tables that explore “security incidents and breaches by sector in 2016,” and a breakdown of “security breaches by industry.”
The entire 62-page report is available here.
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