CyberNews Briefs

Majority of CISOs plan to ask for an increase in cybersecurity investment

New research by the Financial Services Information Sharing and Analysis Center (FS-ISAC) shows that in the face of growing cyber threats, almost 3 in 4 (73%) CISOs in the finance sector will request their CFO to expand the cybersecurity budget in the coming year.

Currently, the majority of organizations (56%) spend only up to 10% of their budget on cybersecurity, and in most firms (54%), the majorpart of that budget is spent on IT infrastructure and asset management. Even though many cybersecurity incidents result from employee errors or third-party risks, employee training (4%) and vendor management (6%) are the two most neglected areas in terms of spending, followed by business continuity (9%).

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