Cybercrime set to become the world’s third largest economy

Researchers with Mastercard, borrowing on numbers from Statista, said that criminal activity could account for $15.6 trillion dollars of economic activity by the year 2029. That figure would put the flow of cash only behind the United States and China in terms of economic activity.

“Cybercrime is one of the great threats of our time. It ruins lives, destroys businesses, erodes trust in the digital ecosystem and undermines global stability,” the researchers noted.

“It’s bigger than the economies of India, Germany and Japan combined, displays double digit growth year on year and is fueled by rapid technological change, the increasing availability of sophisticated, scalable tools and the sponsorship of organized criminal gangs and nation states.”

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