Cybercrime victims lose an average of $9,468, with global toll exceeding $1.24 trillion

New figures reveal that cybercrime victims are losing an average of $9,468 per incident, highlighting the escalating global scale of this problem. The report from Comparitech estimates that 130.9 million individuals are affected annually, leading to a staggering total global loss of over $1.24 trillion, as first reported by Tech Radar.

The United States leads in victim losses, with an average of approximately $20,731 per victim, significantly higher than the global average. Other countries like Spain, France, Sweden, and Turkey report average losses around $10,000 per victim. Russia, despite a higher number of victims, shows a lower per-victim loss of $3,659, potentially influenced by policy decisions and localized applications. India reports the highest number of scam victims globally at 18.8 million, but with a much lower average loss of about $835 per victim, likely due to its lower GDP per capita. China, with 1.2 million victims, reports losses in line with global estimates, possibly due to strict enforcement against cybercriminals. Comparitech's $1.24 trillion figure is considered conservative, with experts anticipating the global cost to reach $10.5 trillion in 2025. The rise of AI presents a dual threat, enhancing both cybersecurity measures and the sophistication of cybercriminal attacks, making the financial impact of cybercrime increasingly significant.

Source: Tech Radar