One trillion dollars. This is the aggregate cost of cybercrime that organizations worldwide surpassed in 2020, according to a report published by the Center for Strategic and International Studies—an amount that more than tripled in less than a decade. This total doesn’t include harder-to-quantify costs, such as lost business opportunities, wasted resources and the negative impact that lost data and downtime can have on employee morale. After surveying 1,500 companies, reviewing publicly available data and interviewing cybersecurity officials, the report’s authors concluded that most organizations lack an understanding of cyber risk and a plan to monitor, manage and mitigate it. read more...