Cybercrime is costing the world trillions every year - new report says victims lose an average of nearly $10,000 in every hit

A recent report reveals that cybercrime is inflicting an average loss of nearly $9,468 per victim worldwide, resulting in an annual global toll of just over $1.24 trillion. This figure is based on 130.9 million victims each year. However, cybercrime is largely underreported by both victims and authorities, so the actual figures may be even higher.

In the United States, cybercriminals target 6.7 million people, with losses of $138.9 billion per victim, more than double the global average. Russia, coming in sixth, has 6.7 million victims but reports a lower per-victim loss of $3,659. India has the highest number of scam victims, with 18.8 million, but the average loss per victim is only $835 due to the country's lower GDP per capita.

China has fewer victims (1.2 million), but each victim loses an average of $9,583, which is in line with global estimates. Comparitech's figure of $1.24 trillion is conservative, as the study acknowledges it only covers victim losses and not the broader economic impact. The report notes that experts predict the global cost of cybercrime to reach $10.5 trillion by 2025, a figure significantly higher than the $1.24 trillion currently estimated. This highlights the growing threat of cybercrime and the need for improved security measures.