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$109 billion

Cyberattacks cost US up to $109 billion in 2016 report

WASHINGTON: Cyberattacks cost the United States between $57 billion and $109 billion in 2016, a White House report said Friday, warning of a "spillover" effect for the broader economy if the situation worsens. A report by the White House Council of Economic Advisers sought to quantify what it called "malicious cyber activity directed at private and public entities" including denial of service attacks, data breaches and theft of intellectual property, and sensitive financial and strategic information. It warned of…