How businesses should go about budgeting for cyber security measures in this day and age?
Cyber security is the foremost concern of Chief Information Security Officers (CISO’s) and IT security professionals globally. It is the first and last thought on their minds during their working day when they strive for securing the data and assets of their enterprise.
Budgeting for cyber security must be done like budgeting for any other enterprise expense bucket. Spend on information security measures and advancement has increased exponentially in the last several years to keep up with the ever-evolving cyber threats landscape. Spend in Australia on cyber security was $5.6b in 2020, while globally it was estimated to reach $123b.
Traditionally, information security has been considered as a “necessary evil” investment where organisations have put in the necessary foundational and basic measures, but not done much with the remaining budget.
This outlook has changed dramatically to cope with and counter the variety of threats and risks enterprises face today from hackers and cybercriminals.
The Covid-19 pandemic resulting in a global shift to working from home arrangements forced enterprises to rethink their information security strategy, move superfast and adopt enhanced security measures which they would not have budgeted for in their fiscal year 2020 budgets.
As a result, the majority of all enterprises, small and big, needed to put a halt to other IT projects and divert the budgets and resources to enhance cyber security operations for the newly formed remote workforces and the enterprises.
Read Full Post From Original Source: How to Plan Cybersecurity Budget Effectively?
Data privacy and protection are two imperative aspects for all businesses today as they could be prone to security breaches.
Many small and medium organisations tend to ignore application security as they believe only large enterprises are targeted by hackers.
However, statistics tell a different story, 43% of cybercrimes happen against small businesses.There are several reasons behind a cyber-attack against these organisations’; from old, unpatched security vulnerabilities to malware or human errors which make take them a lucrative target for attackers.
This indicates that businesses need to implement security best practices to protect their applications and assets from future threats.There are several security standards and online communities such as OWASP and NIST who work hard to produce freely available articles, methodologies, tools and documentation that can help organisations strengthen their IT environment and safeguard from security breaches.To support with facts, here are some chilling stats that will give an idea of how these cyber security threats impact an enterprise:If we talk about the current scenario, data breaches exposed 36 billion records in the first half of 2020.86% of cyber security breaches are financially motivated and 10% are motivated by espionage.Looking at the categorisation, 45% of the breaches feature hacking, 17% include malware, and phishing is involved in 22%.One of the biggest reasons for such attacks is the accessibility of files to every employee on a large scale.
The million-dollar question is, what can organisations do to keep attackers away from compromising sensitive and confidential information?The answer to this question is simple – Proactive Cyber Security Strategy to protect organisation’s assets such as web applications, information systems and servers.In this blog, we will list and discuss the top 5 web application security threats, and then some of the best security practices to protect your web applications against evolving cyber threats.TOP 5 SECURITY THREATS ASSOCIATED WITH WEB APPLICATIONS1.
INJECTION FLAWSInjections flaws allow an attacker to insert malicious code in another system such as interpreter using an application.
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