cybersecurity-economics-gdpr.pdf

Here are the key points from the document:

Summary

The document provides a summary of the societal impacts of consumer-facing cybercrime, including the economic costs and psychological effects on individuals. The authors argue that these impacts can be significant and long-lasting, and that policymakers should consider them when developing cybersecurity policies.

Key Points

1. Economic Costs: The total cost of consumer-facing cybercrime is estimated to be around €300 billion annually in Europe alone.
2. Psychological Effects: Cybercrime can have severe psychological effects on individuals, including anxiety, depression, and post-traumatic stress disorder (PTSD).
3. Societal Impacts: Cybercrime can also have broader societal impacts, including decreased trust in online services, reduced consumer confidence, and increased costs for businesses.
4. Measurement Issues: The authors highlight the challenges of measuring the societal impacts of cybercrime, including the difficulty of estimating the total cost and the need for more accurate data.
5. Policymaking: The authors argue that policymakers should consider these societal impacts when developing cybersecurity policies, and that a more comprehensive approach is needed to address the root causes of cybercrime.

References

The document references several academic studies and reports on the topic of consumer-facing cybercrime and its societal impacts.