Accenture Report Finds Cybercrime Could Cost Up to $5.2T in Five Years, Increase Security Concerns

January 31, 2019

Hikvision Covers Report that Finds Cybercrime Caused by Small Threat Group

Hikvision Covers Report that Finds Cybercrime Caused by Small Threat Group


A new Accenture survey says cybercrime could cost companies up to $5.2 trillion in expenses and lost revenue in the next five years adding to cybersecurity concerns, according to an article in Security magazine.

Led by global consulting firm, Accenture, the report “Securing the Digital Economy: Reinventing the Internet for Trust,” covers analysis from the firm’s research with 30 leading technologists, plus fieldwork with 1,700 C-level executives.

“The Internet wasn’t built with today’s level of complexity and connectivity in mind, which is why it takes just one click—whether inside or outside the company walls—to fall prey to a devastating cyberattack. No organization can tackle the challenges posed by cyber threats on its own; it’s a global challenge that needs a global response and collaboration is key,” said Kelly Bissell, senior managing director of Accenture Security, in the article.

Key findings from the report including the following:

  • 59 percent of respondents stated that Internet cyber instability is growing.
  • 75 percent of those surveyed believe that cybersecurity challenges require a group effort to succeed.
  • 56 percent would welcome heightened business regulations from a governing body.

Click this link to read more about the research findings.

To find out more about cybercrime, read the HikWire article “Report Uncovers Cybercrime Caused by Small, Powerful Threat Groups,” which covers research that found malware and cyber criminals remain business threats that exploit vulnerabilities.

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