If you haven’t gotten serious about data cyberattacks at your organization, now’s the time to do so. Because they’re about to hit companies worldwide with a $2.1 trillion price tag.
At least that’s according to new research published by Juniper Research, which took a closer look at the costs associated with cybercrime and what they’ll end up costing companies on a global scale. And the numbers are staggering.
Going digital will increase the cost of data breaches to almost four times the cost estimated for this year, reaching $2.1 trillion (yes, that’s trillion with a “t”) in 2019. Breaking that down to the average cost of one of the breaches? Corporations can count on paying more than $150 million per breach by 2020.
The report, which focuses on both corporate and financial threats, underscored that the lion’s share of these breaches will not come from targeting mobile devices. Rather, cybercriminals are still going after traditional IT and network infrastructure.
