Budgets for data security not rising with threats

Security concept: Lock on digital screen, illustration

Security professionals are warning that budgets allocated to fighting data security threats are not increasing at the same rate as the threats themselves.

A study was carried out among members of the Institute of Information Security Professionals and just 15% said that budgets have stayed the same. Two-thirds of those who took part in the study said that their budgets have increased. However, it is estimated that around 60% of IT budgets have not risen in line with the increase in data security threats. The research suggests that only 7% of IT security budgets are actually rising faster than the number of threats.

The institute has more than 2500 members working in the field, so the results of the survey are considered an accurate picture of the current state of UK’s cyber security. The director of the IISP, Piers Wilson, has said that it is often the case that data security is seen as an overhead rather than a necessity.

As IT security is about protecting an organisation from future threats, it can be a good indicator of the way that risk awareness is viewed in the industry. The survey also revealed that there is currently a skills shortage in this sector, but it is not a lack of manpower that is the problem. The problem is a lack of knowledge and experience, so it is becoming more important to improve staff training and development.

Just 10% of those who took part in the survey felt that there had been a decline in the ability of the industry to deal with threats to data security.