According to an NCC Group report, the U.S. and China together account for 38.3 percent of all hacking attempts worldwide, costing the global economy more than $43 billion a year.

"Russia comes in behind the US and China in third, with 3.6 per cent of attacks and a cost of more than $4 billion," writes The Inquirer's Chris Martin.

"Half of the top 10 countries were found in Western Europe, with Italy, the Netherlands, France, Denmark and Germany ranking fifth to ninth," Martin writes. "These five account for nearly 200 million attempted hacking attacks, or 14.7 per cent, costing the global economy $16 billion."

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