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The growth of IoT and Big Data exposes businesses to cybercrime

Wednesday 5 October 2016 11:44 CET | News

A report by the Economist Intelligence Unit (EIU) has claimed that Big Data and IoT leave businesses more vulnerable to cybercrime.

The report states that out of 200 operators of critical infrastructure worldwide, 80% say the proliferation of IoT and Big Data is making them more vulnerable to cyberattacks.

Telecom and IT services are the most vulnerable types of companies, as an attack would create the most damage, followed by banking institutions.

Outsourcing, once considered a poor choice, is now accepted as part of cybersecurity efforts, the report says. More than a third (35%) of respondents say they are primarily using third-parties to handle security, while 19.5% combine both in-house and outsourced experts.

Chris Clague, the report’s editor said that the increasing connectedness of critical infrastructure is improving the quality and reach of services, but it is also exposing operators to greater levels of risk from cyber attacks.


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Keywords: big data, cybercrime, internet of things, cybersecurity, study, Economist Intelligence Unit
Categories: Fraud & Financial Crime
Companies:
Countries: World
This article is part of category

Fraud & Financial Crime






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