Gartner: Businesses should be prepared to stretch their wallets in the fight against cybercrime

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Cybercrime and network breaches have become an almost everyday occurrence, and you would be hard-pressed to find a company that hasn’t had an online scare of some kind.

The latest major company that fell victim to a hacker was internet giant Yahoo, when it acknowledged last week that as many as 500 million user accounts have been compromised.

According to Peter Sondergaard, vice president at business analysis company Gartner, security related issues and having to constantly upgrade systems is just par for the course – for a very long time to come.

“The area of security is going to be the one area which every organisation on the face of the earth is going to be dealing with for a very long time. And no organisation is immune to that challenge,” Sondergaard said during a media roundtable.

He also added that companies should get ready to stretch their wallets a bit further, as attacks are getting more complex every day.

“I think we will increasingly see companies spend more on security and that is a critical component to what an organisation needs to determine – where that responsibility needs to sit. Particular when we move into the area of connecting things which are very impactfull on our lives.”

According to cybersecurity company Kaspersky Lab, as many as one third of users have fallen victim to cybercriminal schemes, and only 60% of users have installed security solutions on all the devices they use to access the Internet.

This was highlighted through the company’s Cybersecurity Index, the first global index to measure the current cyberthreat levels faced by Internet users.

“Many users today, we believe, do not expect to come face-to-face with cyberthreats, so they fail to install security solutions on their devices and behave carelessly online. This makes them easy targets for cybercriminals,” said Andrei Mochola, Head of Consumer Business at Kaspersky Lab.

This ties in with what Sondergaard believes, as many companies might not see the need for a sophisticated cybersecurity solution.

But as attacks become more prevalent and complex, Sondergaard expects organisation to fork out more for protection in the future – not only for its businesses, but also for its customers.

[Image – CC by 2.0/Brian Klug]

Charlie Fripp

Charlie Fripp

Charlie started his professional life as a motoring journalist for a community newspaper in Mpumalanga, Charlie explored different journalistic angles since his entry into the fast-paced world of publishing in 2006. While fostering a passion for the arts, Charlie developed a love for technology – both which allowed him to serve as Entertainment and Technology Editor for an online publication. Charlie has since been heavily involved in consumer technology for various websites and publications. He thoroughly enjoys World War II films and cerebral documentaries; aviation; photography and indie music. Oh yes, and he also has a rather strange obsession with collecting coffee mugs from his travels.