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International

Russia: Cybercrime market in 2013-2014 fiscal year estimated to be $2.5 billion

October 28, 2014 Reprints

Russia-based Group-IB has said in a report that the cybercrime market in Russia was worth around $2.5 billion for the fiscal year 2013-2014, Forinsurer reports.

The study said cyber criminals are stealing around 400 million records each year. More than 35 banks have had their data compromised during the period and the frequency of such attacks is increasing. An American International Group Inc. official in Russia said insurance could significantly help companies reduce losses from such attacks.

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Russia: Cybercrime market in 2013-2014 fiscal year estimated to be $2.5 billion

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