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.

Attacks/Breaches

8/28/2019
12:45 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Business Losses to Cybercrime Data Breaches to Exceed $5 trillion by 2024

Cybersecurity Breaches to Increase Nearly 70% Over the Next 5 years

BASINGSTOKE, England--(BUSINESS WIRE)--A new report from Juniper Research found that the cost of data breaches will rise from $3 trillion each year to over $5 trillion in 2024, an average annual growth of 11%. This will primarily be driven by increasing fines for data breaches as regulation tightens, as well as a greater proportion of business lost as enterprises become more dependent on the digital realm.

The new research, The Future of Cybercrime & Security: Threat Analysis, Impact Assessment & Mitigation Strategies 2019-2024 noted that while the cost per breach will steadily rise in the future, the levels of data disclosed will make headlines but not impact breach costs directly, as most fines and lost business are not directly related to breach sizes.

For more insights, download our free whitepaper, Cybercrime & the Internet of Threats.

The Human Element Remains Key, Despite AI Advances

Cybercrime is increasingly sophisticated; the report anticipates that cybercriminals will use AI which will learn the behaviour of security systems in a similar way to how cybersecurity firms currently employ the technology to detect abnormal behaviour. The research also highlights that the evolution of deep fakes and other AI-based techniques is also likely to play a part in social media cybercrime in the future.

In spite of cybersecurity becoming increasingly part of corporate culture, it is not necessarily gaining traction with system users. As a result, Juniper Research expects that security awareness training will become an increasingly important part of enterprise cybersecurity practice. The gains that can be made by increasing human awareness of cybersecurity can make more efficient use of cybersecurity spending, which Juniper Research expects to rise by only 8% per annum in the forecast period.

“All businesses need to be aware of the holistic nature of cybercrime and, in turn, act holistically in their mitigation attempts,” remarked research author Susan Morrow. “As social engineering continues unabated, the use of human-centric security tactics needs to take hold in enterprise security.”

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Contacts

For further details please contact Sam Smith, Press Relations. 
T: +44(0)1256 830002 
E: [email protected]

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Stop Defending Everything
Kevin Kurzawa, Senior Information Security Auditor,  2/12/2020
Small Business Security: 5 Tips on How and Where to Start
Mike Puglia, Chief Strategy Officer at Kaseya,  2/13/2020
Architectural Analysis IDs 78 Specific Risks in Machine-Learning Systems
Jai Vijayan, Contributing Writer,  2/13/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
6 Emerging Cyber Threats That Enterprises Face in 2020
This Tech Digest gives an in-depth look at six emerging cyber threats that enterprises could face in 2020. Download your copy today!
Flash Poll
How Enterprises Are Developing and Maintaining Secure Applications
How Enterprises Are Developing and Maintaining Secure Applications
The concept of application security is well known, but application security testing and remediation processes remain unbalanced. Most organizations are confident in their approach to AppSec, although others seem to have no approach at all. Read this report to find out more.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-9016
PUBLISHED: 2020-02-16
Dolibarr 11.0 allows XSS via the joinfiles, topic, or code parameter, or the HTTP Referer header.
CVE-2020-9013
PUBLISHED: 2020-02-16
Arvato Skillpipe 3.0 allows attackers to bypass intended print restrictions by deleting <div id="watermark"> from the HTML source code.
CVE-2020-9007
PUBLISHED: 2020-02-16
Codoforum 4.8.8 allows self-XSS via the title of a new topic.
CVE-2020-9012
PUBLISHED: 2020-02-16
A cross-site scripting (XSS) vulnerability in the Import People functionality in Gluu Identity Configuration 4.0 allows remote attackers to inject arbitrary web script or HTML via the filename parameter.
CVE-2019-20456
PUBLISHED: 2020-02-16
Goverlan Reach Console before 9.50, Goverlan Reach Server before 3.50, and Goverlan Client Agent before 9.20.50 have an Untrusted Search Path that leads to Command Injection and Local Privilege Escalation via DLL hijacking.