Cybercrime is projected to cost the world US$9.5 trillion in 2024.
Global cybercrime damage costs are expected to grow by 15% per year over the next two years, reaching US$10.5 trillion annually by 2025.
In Jamaica, the problem is also a challenge.
The Bank of Jamaica reported that local banks detected about $715 million in fraud losses in 2021, $800 million in 2020, $1.3 billion in 2019, and $1.2 billion in 2018.
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