This is No Time to Retreat In Cybersecurity

In light of recent high-profile hacks and incidents, it is crucial to maintain or even increase cybersecurity budgets in 2023. The short-term cost of a breach averages $4.35 million, with the global cost of cybercrime estimated to reach $10.5 trillion annually by 2025. Long-term costs include brand damage, regulatory fines, legal fees, and increased insurance premiums or cancellation. The U.S. Federal government is investing more in cybersecurity this year, recognizing the importance of protecting against cyber threats.