Threat Intelligence

5/30/2017
12:20 PM
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Cybercrime Costs to Reach $8 Trillion by 2022

Some 2.8 billion data records expected to be breached in 2017, according to a report released today by Juniper Research.

Cybercrime costs are expected to saddle businesses with a whopping $8 trillion price tag over the next five years, as connectivity to the Internet rises but security system upgrades don't keep pace, according to a Juniper Research report released today.

In this year alone, 2.8 billion data records held by business customers are expected to be breached, according to the report, The Future of Cybercrime & Security: Enterprise Threats & Mitigation 2017-2022. And in the next five years, that figure is anticipated to balloon to 5 billion breached records.

Small-and mid-size businesses (SMBs) are expected to face the brunt of the attacks, given these organizations shelled out an average of under $4,000 a year in 2017 on cybersecurity efforts. The amount they spend is not expected to substantially increase over the next five years, despite rising threats and the fact that a number of small businesses run older software.

Running older software that has not been patched is just one problem that SMBs face. Another growing problem is the greater availability of easy to use ransomware toolkits that requires little to no programming skills on part of the cyberattacker, according to the report.

Read the Juniper Research report here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

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Gavinkeats
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Gavinkeats,
User Rank: Apprentice
6/2/2017 | 7:24:54 PM
Apple Mac issues?
Your article does not specify operating systems, a search in the article for iOS appears to be a limited threat. Is that correct?
RyanSepe
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RyanSepe,
User Rank: Ninja
5/31/2017 | 10:54:08 AM
Actively Patch
Like many security training programs attest to, actively patching can remediate a very large percentage of risk at your organization. Unfortunately, there are many cases where active patching is not a reality due to fear of breaking business facing apps. This in and of itself has inherent risks as denoted by the article.
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