The purpose of this memorandum is to discuss about why we should not plan to cut-off 15 % IT budget because of no major Security breaches:
• IT Budget of 15 % cutoff may expose business risk because of not having major security breach
• According to the recent analysis from our Cyber security data scientist teams there are more than 90 % of organizations have faced a security breach after an IT Budget cut-off timeframe
• There are more that 180 million records have also been stolen over the last few years from various organization because of IT budget cutoff, affecting about one in every 12 consumers.
As the MIS Manager for the IT Department at XYZ Company we have been notified from the Vice – President of the company stating about the IT budget cut-off by 15% because of no major security breaches was found over the last few years in our organizations. Security Breaches from cyber threats have been defined as “midst the gravest national security dangers to any country”
Our organization cybersecurity team is distinguishing between various types of cyber events everyday such as data breaches (unauthorized disclosure of personal information), security incidents (malicious attacks directed at a company), privacy violations (alleged violation of consumer privacy), phishing/skimming incidents (individual financial crimes) etc.