Cybercrime to Cost Global Business $8 Trillion in the Next 5 Years
Criminal data breaches will cost businesses a total of $8 trillion over the next 5 years, due to higher levels of Internet connectivity and inadequate enterprise wide security.
The Juniper research, The Future of Cybercrime & Security: Enterprise Threats & Mitigation 2017-2022, forecasts that the number of personal data records stolen by cybercriminals will reach 2.8 billion in 2017, almost doubling to 5 billion in 2020, despite new and innovative cybersecurity solutions emerging. It highlights cybersecurity problems becoming particularly acute when businesses integrate new and old systems without regard to overall network security.