Promoting The Investment In Cybersecurity During A Down Economy
During an economic downturn, many businesses focus on cutting costs and streamlining operations to stay afloat. This often leads to budget cuts in areas that are not deemed essential for the immediate survival of the business, and unfortunately, cybersecurity is often one of the first areas to be hit. However, this can be a dangerous move for a few reasons. First, cyber threats are not limited to prosperous economic times. In fact, cybercriminals may view economic downturns as an opportunity to target vulnerable businesses. For example, phishing attacks that attempt to steal sensitive information from unsuspecting employees can increase during times of financial stress as people may be more likely to fall for these scams when they are concerned about their job security or financial stability. A key example being the recent uptick in phishing emails with the titles of "Layoff Notification" and "Sorry, you've been let go". Second, the…