In recent years, cyber security has become a major issue for businesses all over the world. With the estimated cost of cybercrime in 2023 predicted to be a staggering $8 Trillion, it is no surprise that it is a top priority for leaders in all industries and regions. Despite the increased attention and budgets for cyber security, attacks have only become more frequent and more severe. While threat actors are becoming more advanced and organized, this is only one part of the puzzle in understanding why cybercrime is on the rise and what organizations can do to stay secure. It is easy to assume that the solution to the cyber security problem is to invest more money in hiring more security experts and buying more tools and technology. However, there is a shortage of experienced cyber professionals, with an estimated 3.4 million unfilled positions globally. Additionally, many organizations are already investing heavily in cyber security, with global spending on security and risk management predicted to reach $188 Billion in 2023. Despite this, cyber attacks are still occurring, with the number of attacks in 2022 being 38% higher than the previous year. This means that organizations are having to react to cyber incidents after the attack has already progressed, leading to costly damages and reputational damage. To reduce the likelihood of a breach, organizations need to invest in impactful intelligence that improves visibility on risks and enables them to detect and eliminate threats quickly. This means viewing cyber security as a business challenge that needs to be addressed in an efficient and cost-effective manner, rather than just a technical problem.
This Cyber News was published on thehackernews.com. Publication date: Thu, 02 Feb 2023 12:46:02 +0000