Singapore is losing an estimated $1.25 billion to cyber crime.
According to research by the Center for Strategic and International Studies (CSIS, it estimated Singapore’s losses to be part of a $445 billion loss incurred by businesses and Governments worldwide. The world’s four largest economies – the United States, China, Japan, Germany – collectively lose $250 billion.
According to Techgoondu, with this figure set to rise with global cyber crime, Governments are beginning to take serious efforts to collect and publish data on cyber crime as part of an international collaboration to thwart cyber criminals.
