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How Much The Cybercrime Cost Global Business In Future?

Cybercrime is growing as the use of the internet and business networks expand. Today, more than ever, businesses of all sizes rely on their networks, data and Internet connectivity to conduct business.

As the use of internet and networked computers grows, and new technologies such as cloud computing enable even greater technological advances, the occurrence of cybercrime is expected to grow as cyber criminals seek to exploit online and networked vulnerabilities in business networks.

Businesses are trying to tackle the tribulation by setting up new and innovative cybersecurity solutions, but so far it’s not providing impressive results. The substantial troubles occur when organizations try to integrate new and legacy systems, and don’t pay particular attention to security on their network.

Over the next five years, data contraventions will have cost the global trading total of $8 trillion in fines, lost business and remediation costs.

Trades are set to lose $8 trillion to cybercrime over the course of the next five years, according to a new report. The latest report from Juniper Research has evaluate that while spending on Cyber Security is increasing, it is not having the same speed with threats posed by data breaches.

“Global cyber security spend will reach nearly $135 billion in 2022, up from an estimated $93 billion this year,” reveals the research.

“Businesses are now encountered with a number of different cyber security solutions to select from, many of which don’t integrate well with each other and require a high level of expertise and manpower to manage. This means that threats can be missed, and small businesses, which are more likely to be targeted by cyber criminals, are the least able to effectively manage their security.”

Is The Future Of Cyber Crime A Nightmare Scenario?

Steps to Reduce The Cyber Risk:

  1. Set Up Risk Management Regime
  2. Secure Configuration
  3. Network Security
  4. Managing User Privileges
  5. User Education and Awareness
  6. Incident Management
  7. Malware Prevention
  8. Monitoring
  9. Removable Media Controls
  10. Home and Mobile Working

So, Stop Neglect And Protect before you connect!

“To learn more about these steps, please call our experts for a free consultation.”

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