Security News > 2021 > March > Most decision makers plan to increase spending on cybersecurity this year

Budget cuts, redundancies, delays to cyber resilience projects and increased remote working in the last 12 months could all have increased organizations' risk of a cyber attack in 2021, according to new research into cybersecurity decision makers from NCC Group.

The data suggests that these measures could have negatively affected security postures: over 70% of organizations that cut budgets, made redundancies or delayed or cancelled their cyber projects reported an increase in cyber attacks.

Half of the decision makers reported an increase in remote working, with 66% of those that did so witnessing an increase in phishing and ransomware attacks.

This operational shift also exposed concerns around the impact of people on cyber resilience: of the 39% that reported an increase in insider threats, 51% believed that an increase in remote working was the cause.

To address this shortage, two thirds of organizations plan to increase their amount of outsourced cyber resilience work in 2021.

Although the majority plan to increase cyber budgets, challenges around investment decisions remain: over 90% of respondents struggle to accurately assess or quantify the cost vs benefit of cybersecurity measures.

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