Why are the number of cybercrimes increasing? This article highlights three new reasons. 1) An explosion of data, connections, transactions and communications that are overloading the traditional data systems, 2) Institutions lack the ability to identify problems, and 3) A lack of formal control mechanisms.
Another major breach of cybersecurity will soon be in the news. The only question is how dramatic and costly that breach will be, and whether the full extent of the damage will ever be made public. Worse still, should hackers gain access to the financial records of a major national bank or credit card issuer or an important defense contractor, the recent thefts of consumer information, such as those that occurred at retailers Target and Home Depot, may seem comparatively insignificant.