Cybercrime Will Cost Businesses Nearly $8 Trillion Over Next 5 Years

Jupiter research firm has published a report highlighting the financial impact that cybercrime can have on businesses. In this report, the researcher estimates that computer attacks (piracy, theft of personal data, etc.) will cost businesses around the world close to $8 trillion over the next five years.

The report indicates that this threshold will be reached very quickly because of the significant progress of Internet connectivity which has come to a very high-level today. There is also a lack of security in the companies.

The findings of the study contained in the report “The Future of Cybercrime & Security: Enterprise Threats & Mitigation 2017-2022,” also indicates that the number of stolen and personal data files could reach

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Jupiter research firm has published a report highlighting the financial impact that cybercrime can have on businesses. In this report, the researcher estimates that computer attacks (piracy, theft of personal data, etc.) will cost businesses around the world close to $8 trillion over the next five years.

The report indicates that this threshold will be reached very quickly because of the significant progress of Internet connectivity which has come to a very high-level today. There is also a lack of security in the companies.

The findings of the study contained in the report “The Future of Cybercrime & Security: Enterprise Threats & Mitigation 2017-2022,” also indicates that the number of stolen and personal data files could reach 2.8 billion in 2017 alone. According to Jupiter research firm, this figure could reach five billion By the year 2020, almost double what is expected in 2017.

The report’s analysis shows that very often, most major problems occur when organizations try to integrate new innovations, without paying particular attention to safety aspects. That said, it is clear that many companies seek to solve the problem of cybersecurity, by deploying new and innovative solutions. However, according to the report, these attempts failed to produce satisfactory results.

Jupiter’s analysis also highlights the need for businesses to spend more money on cybersecurity (maintenance of their systems, etc.). However, it seems that SMEs (small and medium-sized enterprises) are particularly at risk from cyber attacks, especially since they spend less than $ 4,000 per year on security measures.

Jupiter is not expecting a substantial increase in this amount over the next five years. These SMEs also tend to run old software that ransomware to the like WannaCry operates to commit their packages.

Attacks on hospital infrastructure show that inadequate security policies can now cost both lives and money. The report adds that companies of all sizes need to find the time and budget to improve and secure their systems against cybercrime.

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