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[Graphic News] Global cybercrime costs $600b annually: study

The annual cost of cybercrime has hit $600 billion worldwide, fueled by the growing sophistication of hackers and proliferation of criminal marketplaces and cryptocurrencies, researchers said Wednesday.

A report by the security firm McAfee with the Center for Strategic and International Studies found theft of intellectual property represents about one-quarter of the cost of cybercrime in 2017, and that other attacks, such as those involving ransomware, are growing at a fast pace.

Russia, North Korea and Iran are the main sources of cyberattacks targeting financial institutions, while China is the most active in cyber espionage, the report found.