Why lower cybercrime costs are no reason to celebrate

Companies should not be lulled into a false sense of security by a recent report that significantly downgrades the potential financial fallout of cybercrime in the U.S., writes commentator Michael Hickins. The study, released jointly by the Center for Strategic and International Studies and McAfee, cuts earlier estimates by $900 billion, but according to Hickins, with cyberattacks continuing to increase in volume and persistence, CIOs need to make cybersecurity a strategic imperative regardless of the lower number.

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