Despite billions spent on cybersecurity, companies aren’t truly safe from hacks

Companies on a treadmill to stay ahead of data thieves

Last year, private sector companies globally spent more than $75 billion on security software to safeguard their systems and data.

That number is expected to grow about 7% annually, according to Gartner and other analyst firms. It doesn’t include all the massive amounts spent on fraud prevention by banks, a number that is widely under reported and expected to reach into the billions annually.

Has all that spending made private sector data and systems any safer? Is customer personal data any safer?