Cyber-crime on the corporate agenda

Constant innovation by hackers is seeing a surge in attacks. The onus now falls on the industry, government and law enforcement to try and find a solution, reports Kate O’Flaherty.

From solo hackers to Russian syndicates with close government connections, cyber-crime is big business. As many firms are discovering first-hand, the cost of an attack can be massive – and this is about to grow even more.

According to Juniper Research, the cost of data breaches will reach £1.3 trillion globally by 2019—almost four times levels in 2015. On an individual basis, the average price of a major corporate breach will exceed £94 million by 2020, the analyst says.

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