Juniper Research has concluded that data breaches could cost the global economy as much as $2 trillion in the next five years, and has pointed the finger at weak corporate and network security as the reason for the breaches.
After mock emails were sent to employees at the Department of Justice, it was determined more than one third of them clicked onto phony links in the email leading to concerns about the security of the department's sensitive information.
Cyber security business Symantec warned that Internet fraud cost India a whopping $4 billion in the year to July 2013. The Norton Report issued on Tuesday indicates an 8 percent increase for the year and the average cyber crime victim loses around $207.
Canadian researchers say that computers of several embassies worldwide as well as at the United Nations and the office of the Dalai Lama have been infiltrated by a cyber-space spy network originating in Chengdu, China. Beijing denies any knowledge.