Cybercrime is a fast-growing market that offers huge profits and minimal risks. According to the report published by the Center for Strategic and International Studies (CSIS), the annual damage inflicted by cybercrime to the economy is within the range of 375–575 billion USD, exceeding the GDP of many countries around the world.The advent of new tech has enabled ever more sophisticated ways to commit cybercrime. "Cybercrime is a tax on innovation and slows the pace of global innovation by reducing the rate of return to innovators and investors," Jim Lewis of CSIS said in a statement.