In 2012, a group of cybersecurity researchers and social scientists studied the impact of cybercrime and its cost to society, concluding that the money spent anticipating an attack is less effective than money spent responding to an attack. This week, many of the same researchers released an updated paper at the Workshop on the Economics of Information Security (WIES) conference, in Cambridge, Mass., that looks at direct and indirect damages due to cybercrime, as well as the cost to defend against the crimes.

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