Six in 10 business leaders believe that in the war against cybercrime, hackers are more sophisticated than software developers, according to a new RSM cybersecurity survey. The pan-European survey of board members at nearly 600 successful businesses by the European Business Awards also revealed that 73% consider themselves at risk from cybercrime and only 31% believe their security strategy will protect them from a cyberattack.

A new report from Juniper Research found that the cost of data breaches will rise from $3 trillion each year to over $5 trillion in 2024, an average annual growth of 11%. This will primarily be driven by increasing fines for data breaches as regulation tightens, as well as a greater proportion of business lost as enterprises become more dependent on the digital realm.

A recent report by Juniper Research found that over 33 billion records will be stolen by cybercriminals in 2023 alone, an increase of 175 percent over the 12 billion records expected to be compromised in 2018. This will result in a cumulative loss of over 146 billion records for the whole period.