CyberSecurity: Businesses Fight Back Against Attacks

first_imgBusinesses are fighting a cyberwar. Cybercrime damages totaled $3 trillion in 2015 and are expected to grow to $6 trillion by 2021, according to a report by Cyber Security Ventures. That’s a massive amount of money. To fend off possible losses, businesses are ramping up on cybersecurity defenses and expected to spend an aggregate of over $1 trillion from 2017 to 2012.Steve Morgan, Editor-In-Chief at Cyber Security Ventures, said that “Cybercriminal activity is one of the biggest challenges that humanity will face in the next two decades.”Ginni Rometty, IBM’s chairman, president and CEO, said that “cybercrime is the greatest threat to every company in the world.”Robert Herjavec, CEO and founder of the Herjavec Group, said that “there is no effective law enforcement for financial cybercrime today. Organizations need to increase their defenses and become more resilient because there is no end state in sight for this growing cybercrime epidemic. So long as there is a way for cybercriminals to get paid, with limited risk, attacks will continue. The challenge remains that large enterprises aren’t nearly as agile as their attackers.”last_img

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