6/28/22, 1:04 PM
The Impacts Of Inflation On Cybersecurity - Jacob Parker-Bowles | Cyber Security
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The Impacts Of Inflation On Cybersecurity by Jacob Parker-Bowles | Jun 24, 2022 | Cyber Security, Jacob Parker-Bowles
Inflation is hitting us all when it comes to paying more for gas at the pump, food at the grocery store, and other essentials. Cybersecurity will also be impacted by record inflation on multiple levels. Let us take a look at how inflation and cybersecurity are intertwined. Hackers, the people behind cyberattacks, are impacted by the same inflation that affects everybody else. This means the cost of hacking is increasing for them. While you may think that a higher price to launch a cyberattack will decrease the frequency of cyberattacks, the opposite will most likely be true. Faced with increasing economic burdens, hackers may become more eager to launch attacks as they look to cover their bills. An inflationary environment with rising costs can mean that many companies may have to cut corners or scale back on their cybersecurity budget. Less cyber defense means greater vulnerability to cyber attacks. Hackers may realize this and, despite their increased costs, may seek to capitalize on the weaknesses that companies may be leaving behind to control costs.
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