A 2023 report by Cybersecurity Ventures predicts that midsize businesses spend about $826 to $653,587 on cybersecurity incidents. It further asserts that the costs of cyber crimes will reach an estimated $10.5 trillion by 2025. The constant increase in the cost of cyber attacks in business is a message for Chief Financial Officers to take adequate threat-detection measures so that their organization doesn't become victim to a security incident.