Cloud Computing: Cybersecurity Hindsight And A Look Ahead At 2015

Grazed from TechCrunch. Author: Yoav Leitersdorf.

This year we witnessed a series of high-profile security breaches, from the aftermath of the Target and Home Depot fiascos, to a number of attacks on other national retailers, including Michaels, Goodwill and Neiman Marcus. Then there was the massive breach at JP Morgan Chase, which compromised personal information of more than 83 million households and businesses, and finally over 100 terabytes of internal files and films recently stolen from Sony.

Nobody was safe in 2014. In addition to large retailers, media companies and financial institutions, technology companies like eBay and Snapchat were hacked, too, and so were government organizations and healthcare institutions. Also this year, massive Internet infrastructure vulnerabilities were discovered, including Shellshock, Heartbleed and POODLE…

Of course, these publicized events are only a fraction of the overall exposure to losses emanating from cyber incidents, which in 2014 we estimate to be well into the hundreds of billions of dollars. Hence, many firms have dramatically increased their cybersecurity budgets for 2015, and we project that these budget allocations will continue to rise…

Read more from the source @ http://techcrunch.com/2014/12/28/cyber-security-hindsight-2020-and-a-look-ahead-at-2015/