Companies, higher education institutions, healthcare organizations are not only fighting organized cybercrime rings (makes the Mafia look like a cottage industry by comparison) but also nation states with virtually unlimited funding.

Data from the UK government’s recently published cybercrime report shows the bad guys are 24×7 omnipresent:

• HMRC (Revenue & Customs) has responded to more than 75,000 phishing reports and taken down more than 4,000 illegal websites
• Worst breaches cost between £65,000 and £115,000 on average and for large organisations between £600,000 and £1.15m

But this is perhaps the scariest: Both of the two top areas for UK cybersecurity spending are a response to an “ongoing hacking epidemic, much of it with either the explicit backing or tacit approval of a nation state”.

Read the article in ZDNet: Cybersecurity Spending: Where the Money Goes