“Cisco points out that, ‘Cybercriminals have refined their back-end infrastructures to carry out attacks in ways that increase efficiency and profits’ and thus every industry, from financial services to entertainment, is vulnerable to such risks. In 2015, cybercrime ranked as the second most reported economic crime. Increasingly frequent and precision-based cyber-attacks call for a stronger fortification against them.

“The global spending on cybersecurity products and services for defending against cybercrime is projected to exceed $1 trillion cumulatively over the next five years, from 2017 to 2021 as per the estimates of Cybersecurity Ventures.”

Read the full article at nasdaq.com: http://www.nasdaq.com/article/as-cybercrime-rises-so-does-spending-on-cyber-security-cm708874

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