As little as 11% of IT budgets are being used for cybersecurity
Only 11% of IT budgets are being earmarked for cybersecurity needs despite half of UK organizations detecting and responding to cybersecurity threats at least once a week, new research has claimed.
A survey by Vanta found the majority (54%) of firms agreeing security risks for their business have never been higher, with phishing attacks (35%), AI-based malware (34%) and compliance violations (27%) all increasing over the past year.
Despite the clear need for greater investment in cybersecurity, the report reveals 17% of an IT department’s budget represents the sweet spot, indicating that companies don’t have far to go.
