According to McAfee’s “The Security Paradox” study, midsize companies are freezing their security budgets, but at the same time they are seeing an increase in cyber attacks this past year, reports eWEEK.
ChannelInsider reports that while more than 83 percent of surveys companies said they were concerned or very concerned that their business could be the target of an intentional and malicious attack, more than half spent less than three hours per week working on, evaluating and researching IT security options, while threats are up and growing in severity.
Fifty-one percent had already been attacked. About one-third of the organizations experienced repeated attacks, with more than half of those taking up to five hours to investigate and fix, notes CIO Insight.
Perhaps even more distressing is the fact that over half of respondents admitted they knew less than three-quarters of the regulatory and compliance requirements relevant to their organization or industry.
Alex Thurber, senior vice president of worldwide channel operations for McAfee, says:
The explosion and sophistication of malware impacts mid-sized organizations who are struggling to grow their businesses against a backdrop of competitive pressures and a slow economic recovery. While the threats have grown, these companies’ resources to fight them have declined, creating a paradox.