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[infowar.de] Finance houses struggling against hackers
Infowar.de, http://userpage.fu-berlin.de/~bendrath/liste.html
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http://www.theregister.co.uk/2004/05/20/finance_security_survey/
Finance houses struggling against hackers
By John Leyden (john -
leyden -!
- theregister -
co -
uk)
Published Thursday 20th May 2004 10:35 GMT
Financial institutions are losing the war against hackers, according to a
new survey out this week. The majority of finance houses (83 per cent)
quizzed by management consultant Deloitte acknowledged that their systems
had been compromised in the past year, compared to only 39 per cent in
2002. Many of the resulting security breaches have resulted in financial
loss, according to Deloitte's 2004 Global Security Survey
(http://www.deloitte.com/dtt/research/0,2310,sid%253D1013%2526cid%253D48978,00.html).
The survey provides a global benchmark for the state of security in the
financial sector. Deloitte compiled its data through interviews with
senior security officers from the world's top 100 global financial
institutions.
"Financial institutions, particularly security officers, are facing
greater challenges than ever," said Adel Melek, global leader of
Deloitte's IT Risk Management & Security Services, Global Financial
Services Industry group. "They are fighting an on-going battle to overcome
evolving security threats and to comply with an increasingly stringent
regulatory environment but, at the same time, resources have stagnated."
Deloitte's study found that 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. Even with
security attacks on the rise, the largest number of respondents (25 per
cent) to the survey reported flat security budget growth. Deloitte omits
to point out this means that three-quarters of banks and insurance firms
are spending more on security, so it isn't all bad.
AV defences not up to scratch
The survey unearthed evidence that companies are sliding backwards in
defending against computer viruses and worms, the number one computer
security menace. While more than 70 per cent of respondents perceived
viruses and worms as the greatest threat to their systems over the next 12
months, only 87 per cent of respondents had fully deployed anti-virus
measures. This result is down from 96 per cent in 2003. Rather than
letting existing AV licences expire this is likely a sign that
organisation realise that existing defences need to be supplemented with
extra protection that isn't yet in place.
Management buy-in
Only one third (32 per cent) of respondents felt that security
technologies acquired by their organizations were not being utilized
effectively. Only a minority (26 per cent) felt that their strategic and
security technology initiatives were well aligned.
On the upside, financial institutions showed marked improvement in
complying with regulations, with two-thirds (67 per cent) of respondents
running a program for managing privacy (compared to 56 per cent last
year). In addition, the majority (69 per cent) felt that senior management
is committed to security projects needed to address regulatory
requirements. ?
Related stories
Hackers cost UK.biz billions
(http://www.theregister.co.uk/2004/04/28/dti_security_survey/)
Blaster beats up British business
(http://www.theregister.co.uk/2004/03/02/blaster_beats_up_british_business/)
Human error blamed for most security breaches
(http://www.theregister.co.uk/2004/03/31/human_error_blamed_for_most/)
Related links
Deloitte's 2004 Global Security Survey (http://www.deloitte.com/gfsi)
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