It’s budget season. As the current fiscal year comes to a close, business leaders everywhere will convene to discuss business strategy, opportunities and return on investment (ROI) while prioritizing next year’s budget spend. Amidst the planning and prioritization, it is a safe bet that IT organizations will renew their annual request for an increased budget allocation for security. After all, increasing cybersecurity spend will stop the attackers from compromising their infrastructure next year, right?
Cybersecurity Ventures recently predicted that global cybersecurity spending will increase steadily to exceed $1 trillion from 2017 to 2021. But the news site also claimed that the cost of cybercrime around the world will rise to $6 trillion annually by 2021. Something seems wrong with any prediction that correlates increased spending on prevention with increased damages from successful penetration of those same defenses. That’s not