Cybercrime costs to hit $16.5 trillion by 2025

Cybercrime is expected to cost the world about $17 trillion by 2025. Hackers are getting more advanced every day, using automated bots to conduct scams like credential stuffing, credit card testing and data scraping. Founder and CEO of Arkose Labs, Kevin Gosschalk, says criminals are doing “whatever it takes” to make as much money as possible. “Criminals are after one thing, ultimately, making money, so they’re doing whatever it takes to make as much money as they possibly can,” he told Sky News Australia. “One of the big adversarial threats we see is big scale attacks – like a human going in and making one fraudulent account or trying to get into one customer’s account, that’s one scale but if you can use a bot, automation tools, that can do it at millions of accounts instantaneously, that’s more profitable for the criminal, so that’s what they are setting up.”

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