Rising Corporate Security Expenses Driven By Cyber Threats

"It's an amazing thing how insecure the big corporations are," said Echemendia during a break in the weeklong seminar. "It's just amazing how easy it is." Hackers are believed to cost global businesses billions of dollars every year, and the costs to defend against them are soaring. . . . "It's an amazing thing how insecure the big corporations are," said Echemendia during a break in the weeklong seminar. "It's just amazing how easy it is." Hackers are believed to cost global businesses billions of dollars every year, and the costs to defend against them are soaring.

One study by Good Harbor Consulting showed that security now accounts for up to 12 per cent of corporate technology budgets, up from 3 per cent five years ago.