Computer fraud is now a full time business for many, whether it be for profit or in an attempt to achieve a competitive advantage. Governments regularly acuse each other of cyber foul play and institutions are having to take ever more drastic measures to protect themselves.
The threats are varied, from Botnets to Phishing to Trojans but Deloitte's security study indicates that a new cause for alarm is "the decreasing level of competence required to pose a threat".
However, responses to this year's survey indicate that the financial services industry has "reached a turning point,... for the first time,
* organizations are proactive, embracing new technologies
* the lowest percentage of respondents (36%) stated that “lack of sufficient budget”, as the major barrier to ensuring information security, compared to 56% last year.
* information security compliance (internal/external audit) remediation is a top-five security initiative.
* more than half of organizations state that physical information, such as paper, is within the mandate and scope of the executive responsible for information security."
Protecting what matters: the sixth annual Deloitte Touche Tohmatsu (DTT) Global Financial Services Industry (GFSI) Practice information security survey.
The goal of the 6th Annual Global Security Survey for financial institutions is to help respondents assess and understand the state of information security within their organization relative to comparable financial institutions around the world.