Predictions 2015: Security Budgets Will Increase, As Will Breach Costs, Fines, And Lawsuits

There are still a few months left in 2014, but it's safe to say this was a pivotal year in security and risk (S&R). The news of high-profile breaches felt less like a steady dribble and more like a gushing torrent, with breaches affecting major retailers like Home Depot and major financial firms like JPMorgan Chase and the Korea Credit Bureau. If today's empowered customers deem a company unworthy of their trust, they'll take their business elsewhere. Thus, S&R pros must play a pivotal role in the business technology (BT) agenda — the technologies, systems, and processes for winning, serving, and retaining customers. To keep customers from losing confidence in digital business, industries likes retail clearly have to step up their security game, particularly when it comes to secure payments, while law enforcement agencies, government regulators, and privacy watchdog groups feel the need to step in to better protect both consumer and business customers. In this report, Forrester has developed five predictions for security and risk, with analysis and recommendations.