Global Firms Cut IT Security Budgets Due to #COVID19

I have anecdotal evidence of this from my clients that have delayed or cancelled projects because of the pandemic. Its a bit like cutting marketing budgets when market conditions are tough. It may seem like a good idea but cutting budgets at the time when you need more, not less (security, market share…) is daft…:

Over two-fifths (41%) of global businesses have cut cybersecurity budgets due to COVID-19-related financial pressures, according to new research from Barracuda Networks.

The survey of over 1000 business decision-makers illustrates the potentially serious impact the pandemic could have on organizations’ ability to combat threats, as hackers ramp up attacks on remote workers and infrastructure.

Around half (51%) of those surveyed said they’ve seen an increase in email phishing attacks since moving to a remote working model, and around the same number (49%) expect to see a data breach or security incident in the next month.

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Original article here