Companies are failing to adequately invest in cyber security, despite industry innovation that could help curb attacks, the CEO of Symantec told CNBC Thursday.
Commenting on recent revelations such as the hacking attack on the US Internal Revenue Service, which stole the personal data of nearly 100,000 taxpayers, Symantec CEO Michael Brown said firms' security defenses are falling short.
"The security industry is clearly trying to respond to an ever increasing number of attacks and severity of attacks, but until companies are actually spending even more, we're creating a gap in terms of what companies need to be spending to protect themselves," Brown said during an interview on Worldwide Exchange.
Still, he insisted spending must be paired with appropriate processes and workplace training.
"It's an ever-changing game of cat and mouse where the attackers are trying new methods and we have to make sure we're also keeping up."