Not surprisingly, Durbin said information losses will occur at both an enterprise and personal level from hacking attacks.

"The compromises we've been seeing over the last 12 months with Sony [Playstation Network] and a number of other organisations are going to continue," he said.

"I don't think some enterprises are taking these threats seriously because there is still so much scope for data to be stolen that we are going to see some big breaches and hacks coming that will impact business reputation and consumer trust."

The rising costs that are associated with proving Cloud computing compliance and external attacks on the Cloud will increase, according to Durbin.