Who’s getting hacked? Bosses who won’t Spend the Money on Cybersecurity

Boardrooms are still lack luster in terms of who’s spending money on cybersecurity before it’s too late to do so preventatively leaving companies at risk. Despite the high number of huge profile incidents ad their expensive fallout many boardrooms are still reluctant to free up the budget.

            Christ Wysopal, co-founder and CTO of cybersecurity company Veracode, told ZDNet Security Update“… they wait for the event to happen, and then they have the big expense of cleaning it up… It’s then that they realize that they could have spent less if they had prevented the attack,… A lot of organizations are going through that right now.”

“For example, an organisation might end up paying millions of dollars to ransomware criminals for the decryption key for an encrypted network – then there's the additional costs associated with investigating, remediating and restoring the IT infrastructure of the whole business after the incident. “(ZDNet)

"One thing I would like to see is cybersecurity become part of every IT or computer science students' training, so that they they had some understanding of cybersecurity as a professional, whether it's building and managing systems in an IT environment or building software," Wysopal explained.

Therefore, Mi-Token urges companies to take preventative measures before they let ransomware infiltrate not only their businesses but their bank accounts too.