The European Parliament has published a public service announcement about the importance of cybersecurity in the face of growing threats of cyberattacks throughout the EU. The EU Parliament outlined the personal and societal consequences of cyberattacks through statistics, highlighting the estimated annual cost of cybercrimes to the global economy was 5.5 trillion euros in 2020 alone. Despite anticipation of an expected 22.3 billion Internet of Things devices to be in use by 2024, the EU Parliament revealed that the EU spends 41% less on cybersecurity than the US.
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