This is the ultimate guide to the cost of IT security. Select the details that match your company to see the average budgets your industry peers spend on IT security (by region, industry, size), what security measures they take, the major threat vectors they encounter, how much money they lose as a result, and what you can do to avoid being compromised. The Calculator has been created as an adjustable tool. The data presented can be updated and/or added to over time based on insights from customers and Kaspersky.
IT security budget in 2019
Data provided by 16 respondents*
LATAM, Finance, 4 999 employees
IT Security budget makes up 28% of the total IT spend
$ 14 729 818
$ 14 729 818
$ 218 750 000
Expected change to IT security budget in three years
Incidents affecting third party cloud services used by the business
Incidents affecting suppliers that the business shares data with
Incidents affecting virtualized environments
Attacks on online banking services
Financial losses due to attacks on ATM
Attacks on point-of-sale (POS) systems
Attacks on core transactional / back office systems
$ 985 636
Average cost of one incident
Companies that rely on monetary transactions for their core business have always been a lucrative target for cybercriminals. With advances in fraud technologies, cybercriminals are switching their focus away from the ‘easy pickings’ of customers to the more challenging but rewarding targets provided by services providers themselves. The most pressing issues for financial services providers are: targeted attacks, embedded systems security (ATMs, POS), the human factor, cloud availability, fraud and ransomware. All interconnected security systems aim to address the rapid detection of sophisticated attacks, but the response and prediction security stages are generally the subject of less attention, while they actually require greater levels of investment. Anti-targeted attack solutions, embedded systems security and specialized solutions for use in datacenters – all of these are ‘must-haves’ for financial services businesses.
Electronic leakage of data and targeted attacks seem to be the biggest concern for financial organizations in Latin America, compounded by employees frequently falling for phishing emails and attacks on POS terminals and ATMs. While POS terminals and ATM scan be effectively secured with embedded security systems, targeted attacks require a comprehensive approach, including anti-targeted attack solutions and cyber training for security specialists as well as general staff.
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*These statistics are based on results from an online survey of 4,474 business representatives from companies with up to 4,999 employees around the world, conducted in 2019 by Kaspersky and B2B International. Statistics based on less than 30 respondents should be used with caution, due to this being a low base.