Elizabeth M. Petrie
Director Cyber Threat Risk Management, Citi
Global Product Manager, Digital Security, Treasury and Trade Solutions, Citi
Cyber threats are on the rise and no industry is immune. According to a January 2016 report by Forbes, the global cost of cybercrime will reach $2 trillion by 2019. While the direct losses from such attacks are costly, often larger are the costs of recovering from these incidents, as well as the long-term reputational damage. A Ponemon Institute study found that the total cost of cybercrime for a corporate in the U.S. averages $15.4 million per year.