Cybercrime Will Double by 2021 with an Annual Profit of $6 Trillion

August 31, 2016

The Cybersecurity Ventures` scary cybercrime related predictions for 2021 are keeping security researchers on their toes.

According to a report, written by the security company, Cybersecurity Ventures, cybercrime will double within 5 years, jumping from $3 trillion this year to the whopping $6 trillion by 2021.

The report, which is named “Hackerpocalypse: A Cybercrime Revelation“, also reveals that 50% of the cyber-attacks, which occur today, are against small businesses.

It is worth mentioning that, when we talk about cybercrime`s consequences, we don’t only mean money thefts and loss of valuable information. We should also acknowledge the cost of addressing damage and destruction to systems and data, the reputational harm as well as the impact on productivity and any other damage caused by cybercriminals.

The rapidly increasing number of computerized and Internet-connected things in one of the main reasons cybercrime`s growth. While 10 year ago crooks` main targets were computers and network equipment, nowadays the black list has expanded significantly. Now, smart devices like phones and tablets as well as the huge number of Internet of Things (IoT) devices are also very appealing to cybercriminals.

Read full story…