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Juniper: Data breaches will cost $2.1tn globally by 2019

The cumulative cost of data breaches will reach $2.1 trillion (£1.3 trillion) globally by 2019 – roughly four times the financial impact of cybercrime today.

This is according to a new report from Juniper Research, published yesterday (May 12th), which states that while “casual activist hacks” will decline over the next half-decade, more professional and larger-scale cyber attacks are set to flourish.

As such, the average cost of a data breach will exceed $150 million by 2020. “Juniper expects fewer attacks overall, but more successful ones,” the report said.

The firm also predicted that politically motivated attacks – such as the supposedly North Korean-sponsored Sony hack last year, which caused massive data loss for the studio – will become less prolific, but more devastating.

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From:: http://www.krollontrack.co.uk/company/press-room/data-recovery-news/juniper-data-breaches-will-cost-$21tn-globally-by-2019227.aspx

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