A Chicago-based futures brokerage will pay $1.5 million for letting cyber criminals breach the firm’s email systems and withdraw $1 million from a customer’s account.
A new report from Juniper Research found that the cost of data breaches will rise from $3 trillion each year to more than $5 trillion in 2024, an average annual growth of 11%.
Both the government and the private sector are scrambling for talent. Thousands of information-security jobs are going unfilled as the industry in the U.S. struggles with a shortage of properly trained professionals. By one estimate, there will be 3.5 million unfilled cybersecurity jobs by 2021.
It can be expected that costs associated with cybercrime will rise in the near to medium term and have a material impact on the global economy – while putting individual citizens’ and corporations’ important data at risk by cyber criminals. Due to the convergence of an escalation in the number of security vulnerabilities, an increase in hacker capabilities and tools as well as new legislation being enacted in the European Union, the estimated costs due to cybercrime may be conservative.
Two out of three hotel websites inadvertently leak guests' booking details and personal data to third-party sites, including advertisers and analytics companies, according to research by Symantec Corp.
