Survey: 1 in 5 firms cut IT security spending

Some CEOs are engaging in some risky business in order to save a few bucks. A new Information Week survey finds that nearly 20 percent are cutting security spending--up from just six percent a year earlier.

Only 27 percent of CEOs are increasing spending on IT security, down from 40 percent a year earlier. In addition, the survey detected that CEOs are less concerned about the impact on data security when they figure out a way to trim expenses.

At the end of the day, this shortcut to save money may cost you far more if your system is hacked and valuable data is stolen. So think hard and be forewarned that there are other ways to save money.

For more on cutting security to save money:
- see this InformationWeek.com article

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