A literature review of financial losses statistics for cyber security and future trend

Abstract

Cybercrime directs to any criminal activity taken out utilizing computers or the internet. Attackers have chosen strategies such as social engineering, phishing, and malware as part of their cyber-attacks. A cyber-attack can lead to various effects, ranging from stealing individual data to extortion money or losing helpful information. Society and systems depend on critical infrastructures like power plants, hospitals, and financial services companies. This paper analyzes financial losses statistics for cyber security and future trends. The cost of cybercrime prevention is increasing day by day. Financial losses refer to damages to the wealth of an organization. This includes organizational losses, compensation, and legal fees. By financial loss, we mean increased costs or reduced income caused by the threat. We collect data from various datasets and information from sources. After collecting data, we analyze the data and create a different chart to identify the growth of cyber-attacks, cyber security, and cybercrime costs. We analyze global and worldwide cybercrime status. We also investigate state-wise cybercrime and the cyber security status of the United States of America. Our main objective of the analysis is to find out the financial losses and future trends of cybercrime and cyber security. From our study, we noticed that the number of cybercrimes and their management and prevention costs are rapidly increasing in the USA and worldwide.