Only half (49%) of organizations have sufficient budget to fully meet their current cybersecurity needs, and 11% can, at best, protect only their most critical assets, according to a recent survey by the Neustar International Security Council (NISC). Despite the rapidly changing threat landscape, one-third (35%) of information technology and security professionals responding to the survey said their organization’s cybersecurity budget would remain the same or decrease in 2023, and 44% of these individuals believe their business will be more exposed and at risk as a result.
When survey participants were asked to identify the most significant current risks to their organization’s IT security posture, “increased sophistication of attacks” emerged as the top concern (cited by 60% of respondents), followed by “increased activity of attackers” (54%), “budget constraints” and “larger attack surface from an increasingly borderless business operation” (both 35%).