Security News > 2020 > March > Cybercriminals raking in $1.5 trillion every year
Research from Atlas VPN found that criminals' net proceeds outpace the revenue made by tech giants each year.
Cybercriminals are now making more than billion-dollar corporations according to a new study from Atlas VPN. Researchers from the company found that cyberattacks are helping criminals in total to make more than $1.5 trillion in revenue each year, which is the three times the $514 billion Walmart makes annually.
"All things considered, with entry costs relatively low and profits exceeding those of traditional crimes, cybercrime is an attractive choice for most criminals. Thus, we can expect cybercrime cases to reach new heights in 2020," said Atlas VPN chief operating officer Rachel Welch.
Ransomware nets hackers about $1 billion each year while cybercrime-as-a-service can bring in as much as $1.6 billion annually.
Some cybercriminals can bring in about $45,000 per year while others can rake in more than $2 million.