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The cost of insecurity: $2.1 trillion every year by 2019

posted onMay 13, 2015
by l33tdawg

Continuing digitisation of goods and services, combined with the further development of mobile, including wearables, and the so-called internet of things, will see the annual cost of cyber-crime and security breaches reach $2.1 trillion (£1.3 trillion) in just four years, according to Juniper Research.

With the rise of ransomware - malware that encrypts a user's data and demands money to provide the decryption key - the threats are becoming more serious and could potentially be spread to more devices as they become connected. "Currently, we aren't seeing much dangerous mobile or IoT malware because it's not profitable," said the report's author, James Moar.

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