Poll analysis
7/25/2013

A recent report by the International Organization of Securities Commissions and the World Federation of Exchanges found that more than half of the world's securities exchanges fought off cyberattacks over the past year and warned that underestimating the severity of this emerging risk could expose securities markets to a "black-swan" event. This week, another report -- "The Economic Impact of Cybercrime and Cyber Espionage," published by the Center for Strategic and International Studies and sponsored by McAfee, the security firm owned by Intel (INTC) -- found that cybercrime and cyberespionage are costing the U.S. economy $100 billion a year and the global economy perhaps $300 billion annually. The report also estimated that malicious cyberactivity costs as many as 508,000 jobs in the United States alone. Given the scope of the issue, we asked readers whether cybercrime against securities markets posed a systemic risk. Our global poll of 593 investors revealed that 83% of respondents believe that it does. For more on the topic of cybercrime and systemic risk, see our recent blog post, "Cyber-Crime Study Warns Securities Markets Could Face a 'Black Swan' event." -- Lauren Foster, Content Director, CFA Institute

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