NSA snooping could cost U.S. tech companies $35 billion over three years

Imagecloud providers have already lost business over the NSA leaks, but now the Information Technology and Innovation Foundation (ITIF) has a report putting a dollar amount on the short-term costs: $21.5 to $35 billion over the next three years.ITIF based these estimates in part on the Cloud Security Alliance survey showing that 10 percent of officials at non-U.S.

companies, European officials and cloud providers raised privacy alarm bells.This leads ITIF to conclude the NSA leaks “will likely have an immediate and lasting impact on the competitiveness of the U.S.

cloud computing industry if foreign customers decide the risks of storing data with a U.S.

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