Impact of Cybercrime in Ireland

in Business Risk, Transnational Crime

According to a report by Grant Thornton, cybercrime activities costs the economy of Ireland up to $822 Million (€600 Million) per year.

The number of security data breaches reported in 2012 increased by 32 percent when compared to the previous year. Officials with the Data Protection Commissioner state that the number of data breaches reported to criminal justice programs is likely underreported due to concerns about reputation damages.

55 percent of the cybercrime that targets Ireland is through the work of transnational organized crime rings and are based in foreign nations.

Source:  “Cybercrime costs Irish economy €630m a year,” RTE News, April 3, 2014.

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