Social Media as an Emerging Source of Cyberthreat

The cost of data breaches is expected to reach $2.1 trillion globally by 2019

In 2016, cybercrime cost the global economy over $450 billion, and over 2 billion personal records were stolen. Moreover, rapid digitization of consumers’ lives and enterprise records is projected to increase the cost of data breaches to $2.1 trillion globally by 2019.

Given the scale of the issue, 2017 research suggests that the majority of cybersecurity budgets (59%) are set to increase over the coming 12 months by at least 5%, and one in five firms (21%) will lift spending by a double-digit amount. Nearly half (47%) of firms plan to increase spending on staffing by 5% or more.

Clearly, even the blockchain-focused crowd can only envy the tenacity of businesses when it comes to security spending and attention to the matter. However, there is a different side to the problem of ever-increasing threat in the cyberspace, which, unfortunately, has little to do wit ...

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