Team CryptoInsightfull 
14 Sep Why Your Online Privacy And Safety Will Be Casualties When We No Longer Use Cash
in Blogs
This week in cybersecurity from the editors at Cybercrime Magazine
–Read the Full MarketWatch Story
Sausalito, Calif. – Sep. 14, 2024
Countries abandoning physical cash entirely, in favor of central bank digital currencies (CBDCs), is not science fiction and those advantages can blind us to the profound implications for privacy and cybercrime that a cashless society will bring.
Cybersecurity Ventures estimates that the global cost of cybercrime will be $9.5 trillion in 2024 and $10.5 trillion in 2025. These figures include not only direct financial losses but also costs related to downtime, lost productivity, and damage to brand reputation.
Sadly, rather than hinder criminals, the complexity of modern digital payment systems provides numerous vulnerabilities for them to exploit.
By 2031, ransomware incidents alone are expected to cost organizations and economies a collective $265 billion annually, according to Cybersecurity Ventures.
A MarketWatch story explores why cash serves as a safeguard of individual freedoms and autonomy against governmental overreach.
Cybercrime Magazine is Page ONE for Cybersecurity. Go to any of our sections to read the latest:
- SCAM. The latest schemes, frauds, and social engineering attacks being launched on consumers globally.
- NEWS. Breaking coverage on cyberattacks and data breaches, and the most recent privacy and security stories.
- HACK. Another organization gets hacked every day. We tell you who, what, where, when, and why.
- VC. Cybersecurity venture capital deal flow with the latest investment activity from various sources around the world.
- M&A. Cybersecurity mergers and acquisitions including big tech, pure cyber, product vendors and professional services.
- BLOG. What’s happening at Cybercrime Magazine. Plus the stories that don’t make headlines (but maybe they should).
- PRESS. Cybersecurity industry news and press releases in real time from the editors at Business Wire.
- PODCAST. New episodes daily on the Cybercrime Magazine Podcast feature victims, law enforcement, vendors, and cybersecurity experts.
- RADIO. Tune into WCYB Digital Radio at Cybercrime.Radio, the first and only round-the-clock internet radio station devoted to cybersecurity.
Contact us to send story tips, feedback and suggestions, and for sponsorship opportunities and custom media productions.
