Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Comments
Global Cost of Cybercrime Predicted to Hit $6 Trillion Annually By 2021, Study Says
Threaded  |  Newest First  |  Oldest First
macker490
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
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.
Dr.T
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
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.
ankasarentcar
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
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
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
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
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
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.

 
Dr.T
Dr.T,
User Rank: Ninja
8/31/2016 | 11:42:40 AM
disruption
"... disruption to the normal course of business, ..."

I think this and the prestige are the biggest hits when it comes to downtime. If your cistimers need your support to provide service to their customers, no customer would be on your site if not up 100% of the time any more.


Edge-DRsplash-10-edge-articles
I Smell a RAT! New Cybersecurity Threats for the Crypto Industry
David Trepp, Partner, IT Assurance with accounting and advisory firm BPM LLP,  7/9/2021
News
Attacks on Kaseya Servers Led to Ransomware in Less Than 2 Hours
Robert Lemos, Contributing Writer,  7/7/2021
Commentary
It's in the Game (but It Shouldn't Be)
Tal Memran, Cybersecurity Expert, CYE,  7/9/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Developing and Testing an Effective Breach Response Plan
Whether or not a data breach is a disaster for the organization depends on the security team's response and that is based on how the team developed a breach response plan beforehand and if it was thoroughly tested. Inside this report, experts share how to: -understand the technical environment, -determine what types of incidents would trigger the plan, -know which stakeholders need to be notified and how to do so, -develop steps to contain the breach, collect evidence, and initiate recovery.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2022-38336
PUBLISHED: 2022-12-06
An access control issue in MobaXterm before v22.1 allows attackers to make connections to the server via the SSH or SFTP protocols without authentication.
CVE-2022-38337
PUBLISHED: 2022-12-06
When aborting a SFTP connection, MobaXterm before v22.1 sends a hardcoded password to the server. The server treats this as an invalid login attempt which can result in a Denial of Service (DoS) for the user if services like fail2ban are used.
CVE-2022-40918
PUBLISHED: 2022-12-06
Buffer overflow in firmware lewei_cam binary version 2.0.10 in Force 1 Discovery Wifi U818A HD+ FPV Drone allows attacker to gain remote code execution as root user via a specially crafted UDP packet. Please update the Reference section to these links > http://thiscomputer.com/ > https://www.b...
CVE-2022-4173
PUBLISHED: 2022-12-06
A vulnerability within the malware removal functionality of Avast and AVG Antivirus allowed an attacker with write access to the filesystem, to escalate his privileges in certain scenarios. The issue was fixed with Avast and AVG Antivirus version 22.10.
CVE-2022-44009
PUBLISHED: 2022-12-06
Improper access control in Key-Value RBAC in StackStorm version 3.7.0 didn't check the permissions in Jinja filters, allowing attackers to access K/V pairs of other users, potentially leading to the exposure of sensitive Information.