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Watch Video as Shane explores the $10 Trillion cost of Cyber crime

The video discusses claims that cybercrime will incur $10 trillion in damages by 2025. Reputable sources have cited this claim, but is it credible? Shane investigates its origin, examines the absence of reliable data to support it, and emphasises the importance of using accurate statistics in the industry to maintain credibility. ‪@shmadvisory-f4b‬The video discusses claims that cybercrime will incur $10 trillion in damages by 2025. Reputable sources have cited this claim, but is it credible? Shane investigates its origin, examines the absence of reliable data to support it, and emphasises the importance of using accurate statistics in the industry to maintain credibility. ‪@shmadvisory-f4b‬

Questionable Cyber Crime Statistics

The video opens by referencing the widely circulated statistic that cybercrime will inflict $10 trillion in damages in 2025, attributed to organisations like Forbes and McKenzie. However, Shanes questions the validity of this figure, suggesting it is exaggerated.

Origin of the $10 Trillion Figure

The figure emerges from a report by Security Ventures, which the presenter scrutinises. Upon reviewing the report, it becomes evident that Security Ventures fails to provide the calculations or methodology behind the $10 trillion claim, leading to scepticism about its accuracy.

Impact of Exaggerated Data

We should be wary of disseminating unfounded statistics harms the industry’s credibility. Propagating incredible numbers creates unnecessary fear and damages professional conversations about cybersecurity, particularly in business and investment contexts.

Call for Transparency and Accuracy

We need to do cyber better, and we as an industry need to uphold truthfulness in reporting statistics. We must verify the numbers we quote to enhance integrity and reliability in cyber security discussions.