Billion Dollar CyberSecurity Annual Budgets Have Arrived
Joseph Steinberg
JUNE 15, 2021
Major American banks and various other parties serving them are each spending $1 Billion per year on cybersecurity, according to Bank of America’s CEO, Brian Moynihan. Moynihan made the comment on CNBC’s Squawk Box show yesterday (June 14), noting that “I became CEO 11 and a half years ago, and we probably spent $300 million to $400 million (per year) and we’re up over a billion now… The institutions around us, other institutions and my peers, spend like amounts, and our contra
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