The increase in losses to cybercrime will primarily be driven by increasing fines for data breaches as regulation tightens, as well as a greater proportion of business lost as enterprises become more dependent on the digital realm, according to Juniper Research’s The Future of Cybercrime & Security: Threat Analysis, Impact Assessment & Mitigation Strategies 2019-2024 report.
And Juniper says that while the cost per breach will steadily rise in the future, the levels of data disclosed will make headlines but not impact breach costs directly, as most fines and lost business are not directly related to breach sizes.
Noting that cybercrime is increasingly sophisticated, the report anticipates that cybercriminals will use AI which will learn the behaviour of security systems in a similar way to how cybersecurity firms currently employ the technology to detect abnormal behaviour.
But, Juniper says that in spite of cybersecurity becoming increasingly part of corporate culture, it is not necessarily gaining traction with system users.
As a result, Juniper expects that security awareness training will become an increasingly important part of enterprise cybersecurity practice, and the gains that can be made by increasing human awareness of cybersecurity can make more efficient use of cybersecurity spending, which Juniper expects to rise by only 8% per annum in the forecast period.