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Staking out the Stats

Escalating security threats are a concern for the majority of financial institutions. According to a recently released Deloitte & Touche 2004 Global Security Survey despite an increase in security attacks, some 25% of respondents reported a flat security budget growth. Here are few more survey findings: *83% of respondents acknowledged...

By Staff Writer | Updated on May 25, 2004

Escalating security threats are a concern for the majority of financial institutions. According to a recently released Deloitte & Touche 2004 Global Security Survey despite an increase in security attacks, some 25% of respondents reported a flat security budget growth. Here are few more survey findings: *83% of respondents acknowledged that their systems had been compromised in the past year, compared to only 39% in 2002. Of this group, 40% stated that the breaches had resulted in financial loss to their organization. *While more than 70% of respondents perceived viruses and worms as the greatest threat to their systems in the next 12 months, only 87% of respondents had fully deployed anti-virus measures. This result is down from 96% in 2003. *Financial institutions show improvement in complying with regulations, as 67% of respondents indicated they have a program for managing privacy compared to 56% last year. In addition, 69% felt that senior management is committed to security projects needed to address regulatory requirements. *While 91% of respondents indicated they have a comprehensive IT disaster recovery plan in place, 51% of respondents took into account personnel within their business continuity plans. *Identity management and vulnerability management are the two most common technologies that financial services are piloting or intend to deploy over the coming 18 months.

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