What is the World’s Third Largest Economy?

You probably guessed what #1 and #2 are – the U.S. and China.

Any idea with #3 is?

If you guessed cybercrime, you would be right.

The World Economic Forum’s (WEF) “Global Risks Report 2020” states that cybercrime will be the second most-concerning risk for global commerce over the next decade until 2030. It’s also the seventh most-likely risk to occur, and eighth most impactful.

To put this in perspective, Walmart generate $512 billion in revenue.

Cybercime is TWELVE times that size – a bit over $6 trillion.

If you add Facebook, Amazon, Apple, Microsoft and Walmart together, cybercrime is still 5 times the size.

What do you think the odds of getting caught and hauled into court from cybercrime is in the U.S.?

While stats vary, the estimate is as low as 0.05% – that’s right five-one- hundredths of one percent.

Top earners can make up to $2 million a year.

The most popular crimes are ransomware and DDoS extortion.

Think of it as the gig economy. A bunch of independent entrepreneurs working for themselves. They don’t have a retirement plan or paid vacations either, but they also don’t pay taxes. Credit: Dark Reading

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