European Parliament published a public service announcement on the importance of cybersecurity in the face of growing threats of cyberattacks across the EU. Parliament outlined the personal and societal consequences of cyberattacks through statistics, noting the estimated annual cost of cybercrimes to the global economy was 5.5 trillion euros in 2020 alone. Despite anticipation for an expected 22.3 billion Internet of Things devices to be used by 2024, Parliament indicated the EU spends 41% less on cybersecurity compared to the U.S.
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