According to a study conducted by Juniper Research, the global cost for data breaches will exceed $5 trillion by 2024, SC Magazine reports. The report, “The Future of Cybercrime & Security: Threat Analysis, Impact Assessment & Mitigation Strategies 2019-2024” shows the current global cost of $3 trillion will grow 11% annually over the next five years. The increase “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,” Juniper said in a news release.
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