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Global Cost of Cybercrime Predicted to Hit $6 Trillion Annually By 2021, Study Says
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macker490
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macker490,
User Rank: Ninja
8/27/2016 | 8:32:26 AM
unless something changes, it likely will
as long as business interests put ease of use and convenience as top priority fraud will likely continue to increase;

two things need to change:

1. product liability law;

2. processing:   (a) use a Secure OS; amd (2) use Public Key Encryption for authentications;

 

commercial interests laugh and claim nobody wants to be bothered;    ask anyone who's had their card compromised; you'll get a different answer;

this is why #1 (above) needs to be a change in product liabilty; otherwise the makers of commercial software simply can't be bothered;

it's an uphill battle though: there's a lot of loose money out on K-Street;
jcavery
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jcavery,
User Rank: Moderator
8/28/2016 | 9:10:11 PM
Re: unless something changes, it likely will
True, and I'd be curious to see how much the $6 Trillion estimate would drop if security spending increased. For instance, if spending on defensive measures increased 10%, what percentage would the projected cost of breaches drop? I have heard lots of companies simply not want to spend money due to inaccurate threat modeling or weak risk assessments, but if we get smarter about spending on defense, we might be able to control that number a little more.
ankasarentcar
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0%
ankasarentcar,
User Rank: Apprentice
8/29/2016 | 5:47:41 AM
Re: unless something changes, it likely will
Excellent information on your Article "Global Cost of Cybercrime Predicted to Hit $6 Trillion Annually By 2021" thank you for taking the time to share with us. Amazing insight you have on this, it's nice to find a website that details so much information about different artists.

By Sewa Mobil Surabaya
Dr.T
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50%
Dr.T,
User Rank: Ninja
8/31/2016 | 11:22:45 AM
Cybercrime
 

Cybercrime is an industry anymore. It employs tons of people.  Also other sectors benefit from it, such as insurance companies.
Dr.T
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50%
Dr.T,
User Rank: Ninja
8/31/2016 | 11:27:00 AM
Re: unless something changes, it likely will
"... rests put ease of use and convenience as top priority...":

I hear you. If no ease of use, no use, and no need to hack either. That makes but not realistic.
Dr.T
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50%
Dr.T,
User Rank: Ninja
8/31/2016 | 11:28:58 AM
Re: unless something changes, it likely will
"... product liability law; ..."

I agree with this one. We do not hold people responsible on the attacks and people were attacked accountable.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
8/31/2016 | 11:31:01 AM
Re: unless something changes, it likely will
"... commercial interests laugh and claim nobody wants to be bothered ..." Agree. These are golden years for insurance companies
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
8/31/2016 | 11:33:14 AM
Re: unless something changes, it likely will
"... how much the $6 Trillion estimate would drop ..."

I say not much. Cybercrime is like another industry, people are running business on it.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
8/31/2016 | 11:35:56 AM
Re: unless something changes, it likely will
"... simply not want to spend money due to inaccurate threat modeling ..."

I agree with this one too. Unit it hits nobody thinks it is real. There are lots of other places to invest for a quick ROI for companies' point of view, not the security.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
8/31/2016 | 11:39:21 AM
9%?
"... and in the 2016 Dark Reading Security Salary Survey, 9% of IT and infosec pros don't even know if they've been breached. ..."

I day this 9% number is bigger. However it would be hard to get an accurate number since they actually do not know.

 
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