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Cyber security experts have said that cybercrimes are expected to cost the global economy $3 trillion by 2020, The Newpaper reported. That’s compared with $450 billion in 2016, the experts said. Meanwhile, a survey by Quann Singapore Pte. Ltd. and Singapore-based research firm IDC Asia/Pacific found that more than 90% of Singaporean businesses are in the early stages of security preparedness.