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Cybercrime could cost companies US$5.2tril over next five years – survey
Companies globally could incur US$5.2 trillion in additional costs and lost revenue over the next five years due to cyber attacks, as dependency on complex internet-enabled business models outpaces the ability to introduce adequate safeguards that protect critical assets, according to a new report from Accenture. Based on a survey of more than 1,700 CEOs and other C-suite executives around the globe, the report, Securing the Digital Economy: Reinventing the Internet for Trust, explores the complexities of the internet-related challenges facing business and outlines imperatives for the CEO’s evolving role in technology, business architecture and governance. The report notes that cybercrime from a wide range of malicious activities poses significant challenges that can threaten business operations, innovation and growth, and the expansion into new products and services, ultimately costing companies trillions of dollars.
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