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Cybersecurity Spending Lags

Organizations would have to spend nine times more to get sufficient security.

By Eric Engleman and Chris Strohm, Bloomberg | Updated on January 31, 2012

Companies including utilities, banks and phone carriers would have to spend almost nine times more on cybersecurity to prevent a digital Pearl Harbor from plunging millions into darkness, paralyzing the financial system or cutting communications, a Bloomberg Government study found.

Spies, criminals and hacker-activists are stepping up assaults on U.S. government and corporate systems, spurring efforts by Congress and President Barack Obama to shield infrastructure essential to U.S. national and economic security, such as power grids and water-treatment plants.

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