An interesting report, with eye watering numbers.
The numbers just keep growing for the cost of cyber crime and the tools to protect against it as more and more criminals abandon real-world crime for a life of cyber-crime.
Worldwide spending on cybersecurity is predicted to top $1 trillion for the five-year period from 2017 to 2021, according to the Cybersecurity Market Report, published by Cybersecurity Ventures. "IT analyst forecasts are unable to keep pace with the dramatic rise in cybercrime, the ransomware epidemic, the refocusing of malware from PCs and laptops to smartphones and mobile devices, the deployment of billions of under-protected Internet of Things (IoT) devices, the legions of hackers-for-hire, and the more sophisticated cyber-attacks launching at businesses, governments, educational institutions, and consumers globally" according to the report. How to respond to ransomware threats In early 2015 Inga Beale, CEO at the British insurer Lloyd's, claimed that cybercrime was costing businesses globally up to $400 billion a year. Several months later Juniper Research released a report which said cybercrime will cost businesses over $2 trillion by 2019.