Despite Attention on Cyber Issues, Additional Funding is Scarce
Need more cybersecurity budget? It might take a breach to get you there. According to the EY Global Information Security Survey (GISS), 70 percent of organizations say they require up to 25-percent more funding, and the rest require even more than this. However, only 12 percent expect to receive an increase over 25 percent.
Cyber breach costs are only expected to rise, however. According to Cybersecurity Ventures’ Cybercrime Report 2017 Edition, by 2021, the global cost of cybersecurity breaches will reach $6 trillion, double the total for 2015.
Seventy-six percent of GISS respondents said the discovery of a breach that caused damage would be likely to see greater resources allocated. Sixty-four percent said an attack that did not appear to have caused any harm to the enterprise would be unlikely to prompt an increase in the organization’s cybersecurity funding.
Security Operations Centers – which provide a centralized, structured and coordinated hub for cybersecurity activity – are becoming increasingly common, but 48 percent of organizations polled in the GISS do not have one. The report notes that SOCs are moving beyond passive cybersecurity practices into active defense, a deliberately planned and continuously executed campaign that aims to identify and remove hidden attackers and defeat likely threats targeting the organization’s most critical assts.
Active defense commonly encompasses four main stages: prioritizing the crown jewels, defining “normal” within the organization, advanced threat intelligence and active defense missions.
Among organizations that have experienced a cybersecurity incident, almost a third say the program when uncovered by their SOC.