Islamabad: Insufficient cybersecurity investment has resulted in cyber incidents for 15% of organizations worldwide over the past two years, as per a new report conducted by Kaspersky, a global cybersecurity and digital privacy company. Regrettably, a large number of cyber events occurred in critical infrastructure, oil and gas, and energy businesses as a result of incorrect budget allocation. Additionally, one in five businesses worldwide acknowledge they lack the funding necessary for effective cybersecurity measures.
Kaspersky carried up a survey to find out what IT security experts from SMEs and large corporations around the world thought about how people affect a company’s cybersecurity.
Budgetary restrictions caused 13% of cyber incidents to occur in the telecommunications sector, 8% in the transportation and logistics industry, and 8% in the financial services industry.
Globally, 78% of respondents stated they have enough funding for cybersecurity measures to either stay ahead of or keep up with emerging threats. Unfortunately, 21% of businesses are struggling; 18% of them claim they lack the resources necessary to adequately safeguard their infrastructure. However, 3% of businesses stated they don’t have a specific budget set aside for their demands in terms of cyber protection. This means that some businesses still don’t allocate any funds at all for cybersecurity.
Within the next one to one and a half years, many of the respondents’ firms are keen to take action to fortify their cybersecurity. Threat detection software and trainings are among the most popular areas of investment; 39% of businesses plan to fund cybersecurity professional education programs, and 38% will fund staff training. Using SaaS cloud solutions, adding more IT staff, and implementing endpoint protection software are other common actions that businesses intend to implement shortly.
“Investing in cybersecurity needs to be in line with corporate strategies, and businesses should view cybersecurity as a key objective. Numerous contemporary methods and tools can be employed to address the difficulties. For instance, we are making investments to expand our SASE portfolio and to provide integrated AI, machine learning, automated threat investigation, automated detection and response, out-of-the-box integrations, and much more. We also give C-level dashboards and reports for CISOs, which include data on how many incidents we prevented, how quickly issues were investigated, and the efficacy of implemented cybersecurity solutions. This helps to ensure process transparency and demonstrate the value of our solutions. In order to assist, we additionally highlight dangers unique to each customer and show them industry-specific trends.
Kaspersky advises using cybersecurity solutions with Advanced Anomaly Control, such as Kaspersky Endpoint Detection and Response Optimum, to get the most out of your expenditure. Smaller businesses or those without the funds to purchase a full suite of cybersecurity products are the target market for Kaspersky Endpoint Security Cloud. With an easy-to-understand workflow, a single administrator may handle a variety of cybersecurity responsibilities from a single location using the all-in-one hosted SaaS console.Employees are taught safe internet behavior through the Kaspersky Automated Security Awareness Platform, which also includes exercises simulating phishing attacks.
In addition, Kaspersky Expert Training gives your security team the most up-to-date information and abilities in threat management and mitigation so they can protect your company from even the most sophisticated attacks. Kaspersky Cybersecurity for IT Online training also assists in developing basic but effective IT security best practices and straightforward incident response scenarios for generalist IT administrators. Engage decision-makers with Kaspersky Interactive Protection Simulation for enhanced C-level professional education to increase their grasp of the value of cybersecurity and how to allocate funds to stay ahead of threats.
