Cyber security budgets see significant uptick: Moody’s

According to the results of a new survey conducted by Moody's Investors Service Inc., corporate cyber security budgets have grown substantially, coinciding with a noteworthy increase in C-suite executives’ awareness of cyber risks, Reinsurance News reported. Cyber budgets increased by 70% between 2019 and 2023. Moody’s also noted that while budgets are on the rise, increasing cyber security costs are putting pressure on financial resources.