WASHINGTON—Cyberattacks cost the U.S. economy more than $100 billion in 2016, with activity coming from inside the country as well as outside, according to a new report.
Citing the White House Council of Economic Advisers (CEA), Reuters reported that cyberattacks cost the U.S. anywhere from $57 billion to $109 billion. Outside the U.S., entities with malicious intent were based in Russia, China, Iran and North Korea, Reuters reported.
The CEA report indicated that many cyberattacks were carried out by those residing in the U.S., suggesting that corporate competitors, activists and organized crime were behind many cybersecurity breaches in the U.S.
The report noted efforts from the public and private sectors would go a long way in fighting cyberattacks and would contribute to growth in the gross domestic product.