Are the breaches get­ting worse?

The Week (US) - - News 11 -

Yes. Al­most 2 bil­lion records were lost or stolen world­wide dur­ing the first half of this year, up 164 per­cent from the last half of 2016. IBM has found that the av­er­age cost of a sin­gle data breach is now $7.35 mil­lion in the U.S. The Equifax hack has al­ready cost the com­pany $4 bil­lion in mar­ket value. Spend­ing on cy­ber­se­cu­rity is soar­ing as a re­sult, and is ex­pected to reach $90 bil­lion this year and $113 bil­lion by 2020, ac­cord­ing to con­sult­ing firm Gart­ner. In 2015, a re­port by the At­lantic Coun­cil think tank and Zurich In­sur­ance Group con­cluded that while the ben­e­fits of on­line tech­nol­ogy will lead to an 8 per­cent in­crease in the size of the global econ­omy be­tween 2010 and 2030, the cost of se­cu­rity will start to out­weigh the ben­e­fits around 2019.

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