Large Global Companies Boosting Cybersecurity Spend - Kaspersky

International organisations will spend up to 26 percent more for cybersecurity in 2018, as the average cost of a data  breach is now estimated to be $1.23 million for large companies (up 24 per cent from 2017) and $20,000 for small and medium businesses (up 36 per cent from 2017), according to Kaspersky Lab’s annual corporate technology risks survey.


The report shows that in North America, the average cost of a security breach for an enterprise has reached $1.6 million (an increase of  23 per cent from 2017) on average, and that it is the most expensive location for an SME to suffer a data breach compared to all seven regions in the study.


IT security budgets are increasing, meaning that larger commercial organisations are spending almost a third of their IT budget on cybersecurity ($8.9 million on average), redefining the strategic role of corporate data protection. For smaller businesses, the average value allocated to cybersecurity is $246,000, or 23 per cent of the overall IT budget.


Kaspersky's research found that the top three motivations for investing in IT security are increased complexity of IT infrastructure (34 per cent), to improve the level of specialist security expertise (34 per cent) and top management wanting to improve defences (29 per cent).

more news

65000 GDPR Data Breaches In Europe To Date


European privacy authorities have received almost 65,000 data breach notifications since the EU's new privacy law went into full effect. In addition, regulators in 11 European countries have imposed $63 million in General Data Protection Regulation fines.

read more

More than half of British firms 'report cyberattacks in 2019'


The proportion of UK firms reporting a cyberattack has jumped, despite most businesses admitting they are under-prepared for breaches, according to research from Hiscox reported by the BBC. The insurer found 55 per cent had faced an attack in 2019, up from 40 per cent last year.

read more

Sloppy IT Processes Risk Cyberattacks - McAfee


McAfee this week published a report that turns familiar survey findings on their heads by reporting that most cybersecurity breaches are the result of lax IT processes rather than mistakes made by end users.

read more

Cybercrime Soaring Reports MalwareBytes


Cybercrime is accelerating at a worrying rate, reports MalwareBytes in its Q1 2019 report. Every quarter that goes by shows more alarming data as to how much cybercrime activity is going on out there, with organizations and companies being called to face and deal with an increasing amount of threats, coming literally from everywhere.

read more