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Improving cybersecurity still likely won't be a company priority

Cybersecurity is important, but decision makers don't invest as much as they should, due to no direct link to increased profit or revenue, experts say.

Published Fri, May 23 2014 2:17 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Even though companies are becoming increasingly aware of cyberattacks and the rising threat they pose, many decision makers are hesitant to spend money to improve security - until a data breach or theft occurs. If an attack doesn't lead to massive financial losses, cybersecurity experts warn, cyberattacks are still being shrugged off. Unfortunately, companies don't think the cost of building a stronger cybersecurity defense is a worthwhile expense, instead focusing on more pressing business matters.

Improving cybersecurity still likely won't be a company priority | TweakTown.com

"Until it hits them at home, it won't matter much," said Scott Goldman, security company TExtPower CEO, in a statement. "The very fact that people are becoming numb to the constant stream of breaches indicates the pathetic level of security provided by most online services."

U.S. defense contractor Lockheed Martin said the attacks it faces has quadrupled since 2007, and public utilities also are being caught up in the chaos. Security typically won't lead to increased revenue or profit, and despite looming cyberthreats, it will continue to take a major incident before change is made.

NEWS SOURCE:siliconvalley.com

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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