Cyberattacks’ 2021 Global Cost Topped $6 Billion: Italian Defence Firm

The world value of cybercrime topped $6 trillion (roughly Rs. 4,63,52,100 crore) final yr, because the coronavirus pandemic precipitated on-line exercise to soar, the top of Italian defence, safety and aerospace big Leonardo stated Tuesday.

“New cybersecurity threats over the last two years have been a ‘collateral damage’ of the COVID-19 pandemic and the acceleration of digitalisation it induced,” Alessandro Profumo stated on the opening of the Cybertech Europe 2022 convention in Rome.”

Cyberattacks have grown in number, sophistication and impact — in 2021 the global cost of cybercrime exceeded $6 trillion. “The figures got here from Clusit, the Italian affiliation for info safety, and evaluate to an estimate of losses of $1 trillion (roughly Rs. 77,25,550 crore) in 2020.

One fifth of the whole assaults was directed at Europe, Profumo stated, however the continent lacked at the least 200,000 cybersecurity professionals.

Speaking to international journalists in Rome final month, he stated cybersecurity points had elevated following Russia’s invasion of Ukraine. “We are noticing additional pressure,” stated the boss of Leonardo, which has a specialised department devoted to cybersecurity.

The assertion from Italian defence agency comes a day after the European Union (EU), the UK and the US accused Russia to be behind a collection of cyberattacks linked with its battle with Ukraine earlier this yr with wide-ranging influence throughout Europe.

The western allies stated the newest assault was on the communications firm Viasat in Ukraine, which had a wider influence throughout the European continent, disrupting wind farms and web customers in central Europe. The UK’s National Cyber Security Centre (NCSC) assesses that the Russian Military Intelligence was “almost certainly” concerned within the January 13 defacements of Ukrainian authorities web sites and the deployment of a harmful malware referred to as Whispergate.

“This is clear and shocking evidence of a deliberate and malicious attack by Russia against Ukraine which had significant consequences on ordinary people and businesses in Ukraine and across Europe,” stated UK Foreign Secretary Liz Truss.