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Digital Identity, Security & Online Fraud

146 billion digital records will be stolen by 2023, Juniper Research predicts

Thursday 16 August 2018 | 01:14 PM CET

The number of digital records stolen by cybercriminals is expected to increase by 175% from 12 billion in 2018 to 33 billion in 2023, according to a report from Juniper Research.

The report shows that despite strong cybersecurity and authentication mandates from regulations such as GDPR and PSD2, the average level of cybersecurity spending will remain relatively flat.

Despite making up 99% of businesses, small businesses represent only 13% of cybersecurity market spending in 2018, with an average of only USD 500 a year, and many companies using consumer-grade products. Those that digitise will be vulnerable to newer forms of malware if they have only endpoint protection, the report suggests.

Moreover, “The Future of Cybercrime & Security: Threat Analysis, Impact Assessment & Leading Vendors 2018-2023” uncovers the fact that the disparate range of institutions and regulations dealing with data from national and international consumers and businesses in the US will make the country an even more prominent target, with more than half of all data breaches expected to occur there by 2023.

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