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2004: Digital risk global economic damage tops USD 500 billion

news alert

London, UK - 16 February 2005, 20:15 GMT - The latest global economic damage chart for all types of digital risk manifestations over the last nine years shows that the estimated quantum of damage for 2004, from all types of digital risk, now exceeds USD 500 billion at mid-value. Click here for pdf. The economic damage calculations include overt digital attacks, covert digital attacks, malware proliferation, phishing scams, distributed denial of service incidents and unsolicited email, ie, spam.

Digital risk damages are calculated by the mi2g Intelligence Unit on the basis of helpdesk support costs, overtime payments, contingency outsourcing, loss of business, bandwidth clogging, productivity erosion, management time reallocation, cost of recovery and software upgrades. When available, Intellectual Property Rights (IPR) violations as well as customer and supplier liability costs have also been included in the estimates.

[ENDS]


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