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>OSS amount to 5.5 trillion EUR every year So the EU loses over 30% of it's total GDP to security vulnerabilities? I somehow find that figure very suspect and

>OSS amount to 5.5 trillion EUR every year So the EU loses over 30% of it's total GDP to security vulnerabilities? I somehow find that figure very suspect and using clearly exaggerated numbers as justification makes me distrust the whole premise of this legislation.

smarx007 3y ago
The figure is an estimate of the global cost, not just EU. And I recall seeing a figure of 300B USD per year just on system integration projects (i.e., just plumbing). Compared to that, the figure looks believable.
- marcinzm 3y ago
  That's more than the worldwide spending on IT per year.
  - smarx007 3y ago
    Haha! I dug a bit deeper and the figure seems to be a 2019 projection: https://ai-watch.ec.europa.eu/publications/cybersecurity-our-digital-anchor_en https://ai-watch.ec.europa.eu/publications/cybersecurity-our... UPD: here is the original source for the figure https://cybersecurityventures.com/cybercrime-damages-6-trillion-by-2021/ https://cybersecurityventures.com/cybercrime-damages-6-trill... That report includes the cybersec costs as well as says that it was a 120B market in 2017 and made a projection that it would be worth 1T+ by 2021. Would be interested to see how those projections fared if anyone has better stats.
    - marcinzm 3y ago
      So it seems to be a projection based on a presentation by the CEO of Microsoft that said the loss of potential revenue and growth is $3T in 2016 (note this is itself not actual measured impact but also a counter-factual projection). In other words it's the most aggressive projection (ie: most sources note it as such) based on the most liberal definition possible of impact from a throwaway slide by a CEO. Then it's listed as the actual number and not a historical projection from half a decade ago. https://www.smartcompany.com.au/technology/complacency-over-cybercrime-cost-3-trillion-in-2015/ https://www.smartcompany.com.au/technology/complacency-over-...
deleted 3y ago
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smarx007 3y ago

The figure is an estimate of the global cost, not just EU. And I recall seeing a figure of 300B USD per year just on system integration projects (i.e., just plumbing). Compared to that, the figure looks believable.

marcinzm 3y ago
That's more than the worldwide spending on IT per year.
- smarx007 3y ago
  Haha! I dug a bit deeper and the figure seems to be a 2019 projection: https://ai-watch.ec.europa.eu/publications/cybersecurity-our-digital-anchor_en https://ai-watch.ec.europa.eu/publications/cybersecurity-our... UPD: here is the original source for the figure https://cybersecurityventures.com/cybercrime-damages-6-trillion-by-2021/ https://cybersecurityventures.com/cybercrime-damages-6-trill... That report includes the cybersec costs as well as says that it was a 120B market in 2017 and made a projection that it would be worth 1T+ by 2021. Would be interested to see how those projections fared if anyone has better stats.
  - marcinzm 3y ago
    So it seems to be a projection based on a presentation by the CEO of Microsoft that said the loss of potential revenue and growth is $3T in 2016 (note this is itself not actual measured impact but also a counter-factual projection). In other words it's the most aggressive projection (ie: most sources note it as such) based on the most liberal definition possible of impact from a throwaway slide by a CEO. Then it's listed as the actual number and not a historical projection from half a decade ago. https://www.smartcompany.com.au/technology/complacency-over-cybercrime-cost-3-trillion-in-2015/ https://www.smartcompany.com.au/technology/complacency-over-...

deleted 3y ago

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