A new report by Bugcrowd highlights the increasing popularity of crowdsourced cybersecurity programs that reward white hat hackers for reporting bugs and security vulnerabilities. Faced with a rapidly changing threat landscape and limited security budgets, 90% of organizations either make use of crowdsourced cybersecurity or are interested in making it part of their security strategy.
The study also found that 60% of the applications used by organization with over 2,500 employees are not properly protected, which means that the average enterprise relies on over 500 insecure apps. The two main reasons why firms are running crowdsourced cybersecurity programs are that this allows them to reward results rather than time and effort (44%) and that it ensures that the security of their applications is constantly being scrutinized by security professionals (42%).
Read more: 90% of companies interested in crowdsourced security programs
