With the rapid expansion of digital media and the advancement of the artificial intelligence, robotics has drawn the attention of cyber security research community. Robotics systems use many Internet of Things (IoT) devices, web interface, internal and external wireless sensor networks and cellular networks for better communication and smart services. Individuals, industries and governments organisations are facing financial loses, losing time and sensitive data due these cyber attacks. The use these different devices and networks in robotics systems are creating new vulnerabilities and potential risk for cyber attacks. This chapter discusses about the possible cyber attacks and economics losses due to these attacks in robotics systems. In this chapter, we analyse the increasing uses of public and private robots, which has created possibility of having more cyber-crimes. Finally, contemporary and important mitigation approaches for these cyber attacks in robotic systems have been discussed in this chapter.