"Lloyd's of London Finds Hypothetical Cyberattack Could Cost World Economy $3.5 Trillion"
"Lloyd's of London Finds Hypothetical Cyberattack Could Cost World Economy $3.5 Trillion"
The insurance giant Lloyd's of London has warned that a major cyberattack against payment systems could cost the global economy $3.5 trillion. Modeled by the insurance marketplace and the Cambridge Centre for Risk Studies, the hypothetical scenario is deemed unlikely. Researchers estimated a 3.3 percent chance of happening. In addition, the British government has researched the probability of a cyberattack on the financial system and determined that a catastrophic incident is unlikely.