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Cybercrime would be 3rd largest economy if it had statehood: Albanian prime minister

Albanian Prime Minister Edi Rama said Tuesday that cybercrime would be the third-largest economy in the world if it was a state.

Rama's remarks came during a panel discussion, “Securing Critical Infrastructure,” on the second day of the 53rd annual meeting of the World Economic Forum (WEF) in Davos-Klosters, Switzerland.

''If cybercrime was a state, it would be the third largest economy after US and China. Based on some assessments. In 2015, cyber operations was around $3 trillion and it is forecasted to be more than $10 trillion in 2025,'' he said.

Cybercrime is like an unknown disease in the human body, said Rama.

''It is not simply to identify it. It is about living with it without knowing it. Like diseases in your body that you do not know. Bare in mind that when you have to invest, it is different when you invest something to happen. It is different to invest in not letting something happen,” he said.

He added that it is worse than the coronavirus.

''It is even worst than a pandemic. The pandemic was about one virus. This is about the multitude of viruses and mutations that happens every second,'' said Rama.

Albania suffered a series of cyberattacks in 2022.

It decided to end diplomatic relations with Iran and ask diplomats to leave within 24 hours in 2022.

Albania, supported by the US, blames Iran for the cyberattack that destroyed government data and blocked public services last July.

Source: Anadolu Agency