Cybercrime cost more than $6 trillion in 2021


A fifth of these attacks targeted Europe“, according to Alessandro Profumo, boss of the Italian aeronautics and defense giant Leonardo.

Cybercrime is becoming more threatening and cost the world more than 6,000 billion dollars (5,700 billion euros) last year, assured Tuesday Alessandro Profumo, boss of the Italian giant of aeronautics and defense Leonardo. “Emerging cybersecurity threats over the past two years have been collateral damages of the Covid-19 epidemic and the acceleration of digitization it has brought aboutsaid Alessandro Profumo as he opened Cybertech Europe 2022 in Rome, a congress of experts taking place against the backdrop of the war in Ukraine.

Cyberattacks have been increasingly numerous, sophisticated and with growing impact. In 2021 the total cost of cybercrime exceeded $6 trillion. A fifth of these attacks targeted Europe“Said Alessandro Profumo, citing figures from the Italian Association for Computer Security (Clusit). Cybersecurity has become a key issue for the European Commission and for EU Member States in order to guarantee their “digital sovereignty and strategic autonomy“, he added.

Exacerbated by the war in Ukraine

But the need for specialists in this field is very great and “55% of European companies are struggling to hire when there is a shortage of at least 200,000 experts“, he assured.

The sector lacks expertise, but also coordination, according to officials. “Our incident notification system (IT, Editor’s note) does not work” because it is “too cumbersome, too bureaucratic“Said Juhan Lepassaar, executive director of the EU Agency for Cybersecurity (Enisa) two weeks ago, quoted by Euractiv, a news site devoted to European affairs.

Cybersecurity issues have also been exacerbated by the war in Ukraine. “We noted increased pressuresince the start of the war, said Alessandro Profumo, whose group has a specialized branch devoted to cybersecurity, in April.

The International Monetary Fund (IMF) said last month that the war in Ukraine hadraised serious concerns for IT operations“. “Attacks (IT, editor’s note) could target systemically important financial institutions. If successful, these attacks could lead to a loss of confidence in the broader financial system, with a potentially negative impact on global financial stability.“, had concluded the IMF.


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