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India On Media |
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| Politics
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| Cybersecurity Fears Grow as Defense |
| Cybersecurity Fears Grow as Defenses Boosted: Study
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| UNITED STATES OF AMERICA
, 10-June-2015
6:2:35 AM |
| The recent epidemic of cyberattacks has led to greater investment and spending on security, but fears are rising that hackers are gaining the upper hand, a study showed today.
A Rand Corporation study based on a survey of company chief information officers said rising concerns from high-profile incidents have made cybersecurity a priority for many organizations.
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The authors cited prior research showing worldwide spending on cybersecurity is approaching $70 billion per year and growing at 10 to 15 per cent annually but said that "it would be an understatement to say organizations are dissatisfied with their security."
"Companies know what they spend on cybersecurity, but quantifying what they save by preventing malicious attacks is much harder to tally," said Lillian Ablon, a Rand researcher and co-author of the report.
"Cybersecurity is a continual cycle of trying to eliminate weaknesses and out-think an attacker. Currently, the best that defenders can do is to make it expensive for the attackers in terms of money, time, resources and research."
The researchers found that the effect of a cyberattack on reputation - rather than direct costs - caused the most concern for chief information security officers.
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