How cyber battles could impact economic costs

An article from Insurance Mag.

A Goldman Sachs Group Inc. analyst warned an escalation of Russia’s conflict with Ukraine could spark “malicious cyber activity” with the potential to inflict significant economic and social costs.

In a wrap of research on the topic, economist Ronnie Walker said cyberattacks have been said to cause about $1 trillion damage to the world economy each year and that two-thirds of them in recent years were attributed to Russia.

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