Ian Wong: Cybercrime is booming and the Internet of Things will just make things worse

Hackers are getting better and businesses are increasingly at risk, according to a new report from global security consultants PwC. Worryingly for corporate digital security chiefs, this problem is expected to get worse as the Internet of Things gains in popularity.

Here’s how bad corporate cybercrime is right now: The number of detected security incidents climbed 38% in 2015 compared to a year earlier, according to PwC, and has been growing at a steady double-digit clip over the last five years. The total number of incidents captured in the survey now stands at 59 million, although the true figure is likely to be much higher. “The numbers have become numbing … prevention and detection methods have proved largely ineffective,” says the PwC report.

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