CDSA

The Future of Cybercrime: Where Are We Headed? (Security Intelligence)

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By 2024, the collective cost of data breaches will reach $5 trillion, according to a study by Juniper Research. The study predicted this astronomical amount will be the result of an increase in fines due, in large part, to the General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA) and any other data privacy laws that come up in the next five years. However, we should also expect to see a 70 percent rise in cybercrime during that time period — another reason for the spike in data breach costs.