Extract from Dan Clark’s article “More Legal Departments Are Taking Control of the Cybersecurity Budget”
An increasing number of companies are placing their cybersecurity budgets in the hands of their legal departments because of increased compliance efforts and scrutiny from regulators.
According to BTI Consulting Group’s Cybersecurity & Data Privacy 2020 report, 46% of companies put the legal department in charge of the cybersecurity budget. The report states that 20% of respondents said the budget is held by information technology, 19.9% in privacy and data security, 7% in compliance, and 6.9% responded the budget is in another department.
