Only half of organisations have budget to meet cyber needs

According to a recent survey conducted by the Neustar International Security Council (NISC), only half of businesses (49%) have sufficient funds to fully address their current cybersecurity requirements.One-third (35%) of professionals in information technology and security who took part in the survey predicted that their company’s cybersecurity budget would remain the same or decrease in 2023.

As a result, 44% of these professionals believe their company will be more vulnerable and exposed.“increased sophistication of attacks” emerged as the top concern when survey participants were asked to identify the most significant current threats to their organization’s IT security posture.

This was cited by 60% of respondents, followed by “increased activity of attackers” (54%), “budget constraints,” and “larger attack surface from an increasingly borderless business operation” (35%).