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Computer Viruses and Their Impact to Global Economy

Computer viruses impact the world. Computer viruses in just the past year have
even had an impact on multiple political elections. They also impact the amount of time
and money that companies have to spend in order to try and either defend or recover from
attacks. This can end up costing individual companies tens of thousands of dollars [1].
There is also a goal for the viruses to allow access to personal credit card number
information. This can then circle back and impact millions of individuals, insurance
companies, and credit card companies. The effect that computer viruses have includes
everyone with a computer. That is why computer viruses have a large impact on the
overall global economy.
In 2016 computer viruses were estimated to have cost the global economy over
450 billion dollars [2]. This means that around 0.5% of the world’s economy is being lost
due to computer viruses [3]. This is a large economic impact for just one industry.
Computer viruses are also greatly impactful over social issues, which, in turn, have an
effect on the global economy.
The economy of the United States is greatly controlled by the tax plan created by
the President, as well as the country’s budget allocations. Computer viruses have now
been used to influence political races. These influences can change how the country
views a candidate, which can result in changing the course of the country’s economy.
When the country’s economic plan changes it always impacts the global economy [4].
Individual bank accounts are also tampered with because of computer viruses.
This can cause for individuals to lose money, as well as time having to try and fix the
issue. Banks and insurance companies then have to spend time, money and resources
trying to repay to individual properly. This means that the computer viruses effect the
time that an individual can be working, as well as the time and money of the banks and
insurance companies. If this were not a regular occurrence it would not have a large
impact on the economy, but there are close to 1 million malware threats reported every
day [5].
Computer viruses are common, and have a large world impact. Having proper
security is key for companies as well as individuals. The economic loss because of these
computer viruses is staggering, and the social impact that they have is unacceptable.
Computer viruses must be stopped and defended against in order for the world to have an
economy that flourishes.
Citations:
[1] Joris Evers January 20, 2006 6:28 AM PST, “Computer crime costs $67 billion, FBI
says,” CNET, 19-Jan-2006. [Online]. Available: https://www.cnet.com/news/computercrime-
costs-67-billion-fbi-says/. [Accessed: 01-Jun-2017].
[2] L. Graham, “Cybercrime costs the global economy $450 billion: CEO,” CNBC, 07-
Feb-2017. [Online]. Available: http://www.cnbc.com/2017/02/07/cybercrime-costs-theglobal-
economy-450-billion-ceo.html. [Accessed: 01-Jun-2017].
[3] J. Desjardins, “The $74 Trillion Global Economy in One Chart,” Visual Capitalist,
22-Feb-2017. [Online]. Available: http://www.visualcapitalist.com/74-trillion-globaleconomy-
one-chart/. [Accessed: 01-Jun-2017].
[4] L. Elliott, “How America’s new president will affect the global economy,” The
Guardian, 09-Nov-2016. [Online]. Available:
https://www.theguardian.com/business/2016/nov/09/donald-trump-new-us-presidentamerica-
global-economy-china-mexico. [Accessed: 01-Jun-2017].
[5] New reports from the Internet security teams at Symantec (SYMC, “Nearly 1 million
new malware threats released every day,” CNNMoney. [Online]. Available:
http://money.cnn.com/2015/04/14/technology/security/cyber-attack-hacks-security/.
[Accessed: 01-Jun-2017].