Many businesses are still reluctant to spend money on cybersecurity because they see it as an added cost – and then find that they have to spend a lot more cash recovering from a cyber incident after they are breached.
See also: Cybersecurity: Graduates double but skills remain the same
Cyberattacks such as ransomware, business email compromise (BEC) scams, and data breaches are some of the key issues facing businesses today, but despite the number of high-profile incidents and their costly impacts, many businesses are still hesitant to free up budget to invest in the cybersecurity necessary to avoid falling victim to an attack.
The cost of falling victim to a major cyber incident like a ransomware can be many times greater than the cost of investing in people and processes that can stop incidents in the first place – something many organizations only realize after it is too late.
That's when they realize they could have spent less if they had prevented the attack, he said: "A lot of organizations are dealing with this issue right now.".
See also: Phishing campaign used Samsung to target cybersecurity companies
See also: Amnesty International links cybersecurity company to spyware
Even for organizations that have a fully developed cybersecurity strategy, training, recruiting, and retaining staff can be a challenge due to the high demand for employees with the required skills.
The issue of supply and demand is not going to be solved overnight, and while Wysopal believes that long-term investment in cybersecurity is vital, there are additional steps that can be taken to help the workforce of more people with cybersecurity skills to help protect organizations from attacks.
If IT or development staff have at least some understanding of cybersecurity, this can help organizations, especially smaller ones that may not have a large budget.
Information source: zdnet.com
