Fast Facts: Nearly 3B Records Will Be Breached In 2017
In the fast-paced IT industry, new statistics and data are released daily. Each week, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses.
We’re not yet halfway through the year, but the predictions are ominous: some 2.8 billion data records are expected to be breached by the end of 2017. That’s billions, with a B.
According to a new report from Juniper Research, because of that rising figure, spending on enterprise cyber security is expected to skyrocket over the next five years, as businesses are forecasted to spend $8 trillion on protection efforts by 2022.
While 2.8 billion records this year is a harrowing figure, the same report predicts that figure will nearly double to 5 billion breached data records in five years’ time. So, what’s driving the issue?
- Small and mid-sized businesses (SMBs) are at highest risk due to a low budget spend – less than $4,000 on average – for cyber security efforts
- Smaller businesses are running older software, which is more vulnerable to threats
- Ransomware toolkits that require minimum programming skills are more widely available
Earlier this year, Enterprise Mobility Exchange reported record-high data breaches in 2016, with 36.6 million records exposed from 1,093 hacks, a 40% increase from the year prior. The industry hit hardest last year was healthcare, as individual records can fetch more money than other piece of data.
As enterprise mobility grows, so will the threat landscape, giving hackers more endpoints to attack. Security in mobility across all industries will be the focal point of Enterprise Mobility Exchange’s Security East Coast event at Trump International Hotel in Miami on October 10 and 11. Find out more about the event and which security experts will be attending here.
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