CANBERRA: A report published by the Australian Institute of Criminology (AIC) on Tuesday said citizens were losing billions of dollars every year to cyber crime. The report put the total economic cost of cyber crime at A$3.5 billion ($2 billion) per year, including A$1.9 billion ($1 billion) lost by individual victims. reports Xinhua news agency.
It found that Australians spend A$1.4 billion on preventing cyber crime every year and A$597 million on dealing with the consequences of cyber attacks.
Responding to the report, Home Affairs Minister Karen Andrews said Australia "cannot allow this criminal activity to become a significant handbrake on our economic growth and digital security". (IANS)
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