At the end of 2016, a business fell victim to a ransomware attack every 40 seconds. This is expected to rise to every 11 seconds by 2021. Once breached on average discovery takes 197 days. The Companies that were able to contain a breach in less than 30 days saved more than $1 million compared to those that took longer. The majority of those hit with an incident, 72 percent, said they lost customers, while 62 percent admitted to incurring legal costs.
By 2021, over 2.14 billion people worldwide are expected to buy goods and services online, up from 1.66 billion global digital buyers in 2016. That means retail data breaches will also be on the rise as point-of-sale systems, e-commerce sites are major targets for hackers looking for large volumes of personally identifiable information.