FFE Magazine

Cybercrime costs Netherlands €8bn a year

Security concept: Lock on digital screen

 

According to American Centre for Strategic and International Studies (CSIS), the Dutch economy loses €8bn a year because of cybercrime, and high-tech companies are the most vulnerable.

 

CSIS commented that the Netherlands incurs the highest losses in cybercrime among developed countries. This is because Dutch companies are still naïve about cybercrime, a comment seconded by Dutch security service AIVD.

 

AIVD said Dutch companies are attractive to hackers because ‘We have the infrastructure, the know-how and as an open trading nation we are easy to approach.’ In addition, the group said ‘Many companies are still ignorant of the threat,’ companies like energy and tech giants Philips and ASML.

 

Security firm FireEye member Dave Merkel commented that 97% of Dutch companies are being infiltrated by hackers. He said that the first steps to combat them are to recognise the threat and find ways to protect yourself.

 

CSIS estimated that cybercrime costs around $400bn worldwide, and there are still many unreported cases that happen. Cybercrime falls into three types:

  • Patent theft
  • Industrial espionage
  • Credit card, bank and personal data fraud

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