Hong Kong CyberSecurity Companies Older Employees & Key Threats Report Released

Some larger companies and corporations are spending billions on cyber protection, notes the latest Cybersecurity Market Report released by Cybersecurity Ventures. Plus, million-dollar cyber security deals are becoming more frequent as the need to protect industries and organizations from the threat of economic loss increases.

Tsim Sha Tsui, Hong Kong – December 22, 2016 /PressCable/ —

Cybersecuritycompanies.org, who raise awareness of cyber threats, cyber security companies, and cyber protection, announces the release of the fourth quarter 2016 CyberSecurity Market Report by Cybersecurity Ventures. This report highlights the extent of cybercrime, which is expected to cost the global economy $6 trillion a year by 2021 as the number of fraudsters rise.

More information is available at http://cybersecuritycompanies.org.

The CyberSecurity Market Report, released every quarter, monitors cyber security and cyber crime, as well as industry forecasts and trends. Some corporations, note the CyberSecurity Market Report, spend billions every year on cyber security. For example, the Bank of America have an unlimited budget for combating the crime, and the U.S government who spent $14 billion in 2016 will be increasing their spending to $19 billion in 2017.

Furthermore, the CyberSecurity Market Report also notes that million-dollar cyber security deals are becoming more frequent. Analysts at an investment banking firm, which contributed research to a recent report, indicated that seven-figure cyber security deals increased by as much as 40% annually.

According to Hackmageddon, an information security timeline and statistics site, cyber crime, where the Internet or computer use is for criminal activity, was the primary motivation behind some 76.5% of cyber-attacks in October 2016. Hacktivism, or breaking into a computer network due to social or politically motivated causes ranked as the second highest motivator of cyber crime at 17.6 %. Cyber espionage, where a computer is used to gain access to confidential material, is the third largest motivator at 5.9 %.

Targets of cyber threats are predominately industry related with more than 31% hit, state Hackmageddon. Organizations followed next at 13.7 percent, and then individuals at 11.8%. Most of these statistics have risen since September 2016. For instance, individuals increased by 4.8%.

Silver fraudsters or older employees who were disgruntled and committed corporate cyber crimes are also on the rise Cybersecurity research suggests. Statistics indicate that senior management frauds had doubled over the last 12-months.

Founder of Cybersecurity Ventures, Steve Morgan said, “We expect worldwide spending on cyber security product and services to eclipse $1 trillion cumulatively for the five-year period from 2017 to 2021.”

To find out more about the Cybersecurity Market Report, cyber security threats, and cyber security companies, please click on the link above.

For more information, please visit http://cybersecuritycompanies.org

Contact Info:
Name: Robert Chan
Email: media@cybersecuritycompanies.org
Organization: BumpText LLC
Address: 10 floor, Miramar Tower, 132 Nathan Road, Tsim Sha Tsui Hong Kong
Phone: +85235977585

Release ID: 156258