Businesses Plan Increase in IT Security Budgets
The SecureAuth survey found a whopping 59 percent of professionals surveyed said their company experienced a data breach in the last 12 months.Businesses nationwide are increasing their cyber security budgets and exploring alternative authentication techniques to passwords, according to a SecureAuth survey. Commissioned in conjunction with Wakefield, the responses surveyed more than 300 IT security professionals in the U.S., and found a whopping 59 percent of professionals surveyed said their company experienced a data breach in the last 12 months. "It is very concerning that such a high percentage of the companies surveyed have been breached," Craig Lund, SecureAuth's CEO, told eWEEK. "I do this for a living, and I was shocked by the number. It's really quite extraordinary. The findings indicate companies are genuinely vulnerable and they add credence to the notion that breaches have become commonplace." The survey revealed nearly all (95 percent) of respondents think their companies will increase their security spending in the next year. Of that number, nearly half (44 percent) expect to do so by 20 percent or more.
"The threat landscape is amazingly sophisticated. In a way, we should be looking at it as a big business, in that there is so much money at stake and so much money being funneled into the actual attack execution," Lund said. "With this in mind, one of our mantras here is that companies should assume they're going to be breached at some point—and prepare accordingly."