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June 28, 2022

CERT-RO organises the 7th annual international conference on new global challenges in the field of cybersecurity. Negrescu: Not having online protection costs us 400 M dollars a year; could cost 2.1 T dollars

Not having online protection costs us 400 million US dollars a year, but it could cost us up to two trillion US dollars a year, if we do not take measures to combat cyber attacks at European level, at national and global level, Minister delegate for European Affairs Victor Negrescu stated on Monday, at the 7th annual international conference “New regional challenges in cybersecurity field” organized in Bucharest by the National Cyber Incident Response Center (CERT-RO), which marks the end of the European Cyber Security Month campaign – ECSM.

“Cybersecurity is very important not just for Romania, but also for the entire Europe. It is important thus to start with some figures, to learn more about the digital sector and its potential. And we need to look first into the global situation. There will be 4.1 billion Internet users by 2020 and more than 26 billion network devices, three times the global population. And this means that the digital sector will bring an extra advantage in economic terms, to national development, European development and global development. Generally speaking, we estimate that, by 2020, the digital sector will be able to generate more than 1 trillion US dollars at global level, an enormous contribution. Which leads us to another reality: more than half of the European companies have been able to deal with cyber attacks. Meaning that there have been many challenges that trigger significant costs today. Every year, not having online protection costs us 400 million dollars per year. If we fail to reach our goals at European level, and national level, these costs could reach up to 2.1 trillion US dollars, enormous costs that will impact the consumer, and not just the companies, but also the public administration,” Negrescu pointed out.

The official also added that “faced with this reality, the ordinary citizens must be better prepaid.”

“Indeed, Romania is not just a country with a lot of expertise, but we also export expertise (…) There are many debates about the ENISA reform (the European Union Agency for Network and Information Security (ENISA) – editor’s note) today in Europe and also about the NIS Directive (Network Internet Security – editor’s note),” the Minister delegate for European Affairs said.

He also mentioned that Romania is capable of solving problems caused by cyber attacks and it must promote its own vision at European level related to this matter.


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