The escalation of Russia’s conflict with Ukraine could spark more “malicious cyber activity” with the potential to inflict significant economic and social costs warned an analyst at Goldman Sachs Group (GSG). According to research, cyberattacks cause about $1 trillion damage to the world economy annually and that two-thirds of them in recent years were allegedly attributed to Russia, said Goldman economist, Ronnie Walker. Economists at Goldman Sachs are concerned as the crisis in Ukraine is escalating tensions between the U.S., its allies, and Russia. No Russian-based cyberattacks targeting the United States have been identified since it invaded Ukraine in February, according to Goldman’s chief economist, Jan Hatzius on March 7. Hatzius, however, noted that growing tensions have “raised the risk” of a cyberwar between the two nations, particularly since almost 60 percent of state-sponsored cyberattacks last year were attributed to Russia. The U.S. public and private sectors have made major investments …