McAfee released a piece of research which revealed that cybercrime costs the global economy 266 billion each year. The research industry should become more reliant upon companies reporting all known breaches and investing in new security solutions to minimise breaches. EU Mandatory Data Breach Disclosure will encourage full visibility of breaches, says Mark Sparshott, EMEA Director, Proofpoint. Increased EU Fines for Breaches will incentivise companies to add new layers of defence using big data analysis, he says.”]
Source: https://informationsecuritybuzz.com/news/266-billion-just-tip-cybercrime-iceberg/