A new survey suggests some Canadian companies are losing confidence in their cybersecurity budgets’ ability to handle the increasingly frequent and complex threats they face.
The Canadian Internet Registration Authority surveyed 503 people responsible for making cybersecurity decisions and found 76 percent represented organizations that have increased their cybersecurity budgets over the past year.
Most organizations reported information technology budgets of at least $50,000, though several said they were even more well-capitalized with funding stretching beyond $100,000.
However, most organizations said only five to 15 percent of those overall IT budgets were dedicated to cybersecurity.
Seventeen percent thought that amount wasn’t sufficient to keep pace with the threats, sixteen percent were unsure and one percent refused to answer….