Cost of data breach to reach $2.1 trillion by 2019

The cost of data breaches will reach $2.1 trillion globally by 2019 experiencing increase of almost four times the estimated cost of breaches in 2015, said Juniper Research.

According to the research the majority of the data breaches will come from existing IT and network infrastructure.

The research also experienced the increased rate in threats targeting mobile devices and Internet of Things (IoT).

Also, in comparison to traditional computing devices, the number of infected devices is minimal.

Juniper in its research, The Future of Cybercrime & Security: Financial & Corporate Threats & Migration, experienced increase in cybercrime professionalism and decline in casual activist hacks.

Additionally, 60 percent of anticipated data breaches worldwide in 2015 will occur in North America but will decrease with time.

Research highlighted the average cost of a data breach in 2020 will exceed $150 million by 2020.

“The kind of threats we will see on these devices will be either ransomware, with consumers’ devices locked down until they pay the hackers to use their devices, or as part of botnets, where processing power is harnessed as part of a more lucrative hack,” said James Moar, report author.

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