According to eSecurityPlanet.com over half of businesses expect to increase IT security expenditure during 2019 as a response to GDPR compliance with spending levels increased by nearly 20% in some cases. However, the irony is that many tech companies are now worried that companies are flooding the market with cash yet basic awareness and unpreparedness could result in companies not investing in the right data security solution for their own unique circumstances.
“One in three companies said they don’t feel ready to combat a cybersecurity threat, the report found. This lack of preparation leaves businesses vulnerable to attack, leading many large enterprises to consider spending more on IT security measures this year.
The enterprise also remains fearful of possible data breaches amid new privacy regulations such as GDPR, the report found. Some 97% of IT professionals said they are afraid of an Internet of Things (IoT)-based cyberattack, yet only 29% said they are actively monitoring their systems, reported our sister site ZDNet. However, companies are turning that around in 2019, the report added.”
If you would like to find out more about GDPR compliance and the right data security needs for your business why not visit the GDPR guidance website on the ICO website or visit the National Cyber Security Centre for more information on how you can protect your business from cyber threats.