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Russia loses USD 3,3 billion to cyber attacks

Monday 18 April 2016 10:16 CET | News

According to a study conducted by Group-IB, Internet Initiatives Development Fund and Microsoft, Russian economy has lost more than USD 3,3 billion due to cyber attacks.

The total lost has reached 0,25% of Russias GDP and is comparable to half of the funds allocated from the state budget for health support in 2015. Direct financial losses are estimated at USD 2 billion, while the elimination of the consequences of cyberattacks cost another USD 1,3 billion.

According to Group-IB, the number of DDoS attacks alone has reached more than 1,000 in Russia. Group-IB noted that cybercriminals most often target banks, including internet banking systems. The number of attacks is increasing, including using viruses written for the Android platform.

Cyberattacks have been experienced by 92% of the 600 companies surveyed, of which 42% are large commercial companies and government agencies. The surveyed companies believe that in the short term the number of attacks will increase by 173%, and the amount of damage by 192%.

Ilya Sachkov, Group-IBs CEO, suggested that some types of targeted attacks tested on banks will be used by hackers in other sectors.


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Keywords: cybercrime, online security, virus, internet banking, hackers, Russia, Group-IB
Categories: Fraud & Financial Crime
Companies:
Countries: World
This article is part of category

Fraud & Financial Crime






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