There is no doubt that this economy is impacting all companies and most individuals. I've read about and heard from many organizations that, as a result, their information security and privacy budgets are being drastically reduced, or even cut completely, in an attempt to save money during these uncertain times. Throwing out the baby with the bath water in this way is a very bad idea! As the economy continues to be bad, you are going to see more cybercrime attempts, and more cybercrime successes. All the more reason for folks to stay security aware and practice good security. Yes, now is the time to make smart information security investments. There are many ways in which organizations can have good security without overpaying. So it *IS* a good time to review your information security expenditures. One of the ways is to invest in the comparatively inexpensive information security and privacy training and awareness activities. Humans have always been the weakest link in information security success. Take the time, without the large bucks, to make personnel your best security tool.
Cutting the information security budgets completely is a foolish idea which their competitors are glad to see . I am sure they will have their lessons soon .