Global damage from cyber incidents reaches $10 trillion per year

Annual cyber incidents worldwide cause $10 trillion in damage, Rauf Jabarov, executive director of the Azerbaijan Cybersecurity Organizations Association (ACOA), said at the Baku Fintech Forum 2025 in Baku, Report informs.

He noted that approximately $1 trillion of this amount is attributed to the financial sector alone.

"In some cases, we recommend using cloud solutions. However, losses in this sector are also growing significantly. The average cost of security incidents affecting cloud platforms is $5.17 million," Jabarov noted.