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The Cybercrime Economy is Now Worth $1.5 TRILLION Annually!

The Cybercrime Economy is Now Worth $1.5 TRILLION Annually!

Locking Down Security Opportunities

The cybercrime economy is now worth $1.5tn annually, according to a report commissioned by Bromium – that’s roughly equivalent to Russia’s GDP in 2018.

While the figure might be surprising, the easy accessibility of malware and other malicious tools on the dark web and a growing support structure for would-be criminals has made it easier than ever to be part of a system that is expected to cost the global economy $6tn in damages by 2021.

It is always high-profile cases that make the headlines. The cyberattack on British Airways stole 380,000 customer transactions, while hackers bagged 339 million customer records from hotel giant Marriott, leading to record GDPR fines of £183m and £100m respectively.

But behind the headlines, small businesses are falling victim to cyberattacks every day. The financial impact of a data breach can sometimes even force small companies to shut down their business. One report by Verizon claims that 43 per cent of all email attacks target SMBs. Even small businesses now offer an enticing treasure trove and an easy target for cybercriminals.

Most don’t have the resources, staff or time to manage their cybersecurity infrastructure themselves. Couple that with the mobilisation of the modern workspace – with firms adopting BYOD, cloud and digital technologies – and the result is that small businesses have become critically vulnerable.

Research by Channel Partner Insight has sought to uncover how channel partners are serving this often overlooked customer base to reveal the key challenges and trends that are shaping the security strategies of both SMB customers and the IT providers that serve them.

View The Full Report Here:

CPI Special Report Webroot