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The global losses from cybercrimes amounted to close to $1 trillion in 2020 and are expected to rise in the coming years. A bug bounty program is one of the elements ensuring projects’ protection against cyberattacks that does not fully substitute other forms of security testing but rather supplements them. The average financial losses experienced by companies vary depending on the country where they operate but the average annual financial losses of companies vary. The U.S., UK, Germany, Japan, U.K., France, and Singapore face the biggest damage.