Smart Gujarat Hackathon 2017
Challenge Statement

Name of the Department: Home Department

Challenge Title ( Must be one liner)	:	Estimate financial impact of cyber crime
Challenge Description with context (At least one Paragraph)	:	Crime wave' is an understatement when you consider the costs that businesses are suffering as a result of cyber crime. The annual cyber crime survey carried out in cities across the country reveals that the cost of cyber crime suffered by Indians is around Rs 34,110 crore, annually. Extracting value from the computers of unsuspecting companies and government agencies is a big business for criminals, and the scope of the loss to the victim ranges from reputational damage, loss of customer trust, financial penalties, cost of remediation and repair, to greater competition arising from the stolen information
Users	:	Any users
Expected Outcomes	:	A tool to estimate financial impact of cyber crime
Impact	:	The Components Of Malicious Cyber Activity In determining the components of malicious cyber activity, we start by asking what we should count in estimating losses from cybercrime and cyber espionage. We can break malicious cyber activity into six parts:  the loss of intellectual property and business confidential information  cybercrime, which costs the world hundreds of millions of dollars every year  the loss of sensitive business information  opportunity costs, including service and employment disruptions, and reduced trust for online activities  the additional cost of securing networks, insurance, and recovery from cyber attacks  reputational damage to the hacked company.