(Bloomberg) –Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, the White House said Friday.
The estimate comes in a Council of Economic Advisers (CEA) report on the impact of cyber attacks on U.S. government and industry. The report details the range of threats that U.S. entities face from actors, including corporations and countries such as Russia, China, Iran and North Korea.
Related: Cybersecurity best practices
"Cyber threats are ever-evolving and may come from sophisticated adversaries," the CEA said in its report. "Due to common vulnerabilities, instances of security breaches occur across firms and in patterns that are difficult to anticipate."
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