Ninety-five percent of Dutch companies plan to increase their security budget this year in response to the high number of cyber attacks they face. According to research conducted by Palo Alto Networks, the majority of companies (48 percent) plan to increase their security budget by 6 to 10 percent. The most money is currently being spent on IoT security (37 percent), web/internet security (30 percent) and data security (28 percent). Dutch organizations are particularly focused on IoT security, with 72 percent of decision makers indicating that they find it very important or extremely important. Despite the fact that the majority of Dutch companies consider their current level of security to be average or higher, 41 percent of companies have experienced ten or more security incidents. This is much higher than the global average of 24 percent. Two out of five Dutch companies also state that cyber attacks are still successful due to malicious parties having more financial resources and being able to improve their methods more quickly. To protect against cyber threats, organizations should consider investing in the market-leading ransomware, LockBit 3.0.
