4 interesting ASX listed cyber security stocks

Financial journalist and commentator on 3AW and Sky Business
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The scale of the cyber-security problem is immense, with cyber-crime costing $US1 trillion in 2018 alone, and forecasts suggesting that losses will grow to $US6 trillion as soon as 2021.

In Australia, the government says cyber-security incidents cost Australian businesses up to $29 billion per year, with cybercrime events affecting almost one in three Australian adults in 2018.

Chinese tech giant Huawei recently admitted that it endures about a million cyber-attacks on its computers and networks every day. Cyber-security consultant Tony Barnes, director of Cyber Research Group, told me recently, “When you switch servers on, they’re like magnets in the way they attract attacks.” Barnes said that showing companies the scale of the constant attacks on them is a penny-dropping moment: “When people visualise it, it scares the pants off them,” he said.

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