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IT Sector Needs to Step up Security

According to a Deloitte report, TMT or Technology, media and telecommunications, businesses are only putting little effort or none at all to guard themselves against online threats. The report was published on January 9, 2008.

This is the second annual survey that Deloitte conducted for an in-depth study of security practices covering over 100 TMT organizations across the world. An alarming result of the survey relates to TMT companies' handling of customer data. Nearly 53% of TMT organizations reported breach of customer information.

The survey results warn these organizations to step up their security investments and efforts to cope with the emerging cyber threats. They show that merely 7% of companies are confident of being fully prepared to deal with future threats.

James Alexander, Technology Security Partner for Deloitte, said that many companies were ignoring threats that arose internally and that they overlooked the origin of such threats. Vnunet reported this on January 11, 2008.

Alexander also said that the most serious threats emerge from within the organization. According to him, the survey cited 75% of companies committing human errors resulting in security failures that worked beyond technology and operations.

Security and privacy leader Jacques Buith of DTT's TMT Industry Group believes that internal threat is one that most organizations are equipped to control. Continuity Central reported this on January 10, 2008.

During the year preceding the second survey, majority of the companies was able to avoid a critical security failure. 69% of the organizations polled said that they were 'very confident' or 'extremely confident' about their ability to effectively deal with external security threats. However, just 56% showed confidence in tackling internal threats.

Alexander further said that albeit investments on security increased during the past twelve months, the increases aren't always enough to cover the rising complexity and volume of threats. Vnunet published this on January 9, 2008.

TMT organizations also possibly sway in an unreal sense of confidence about secured Digital Rights Management (DRM), mobile workforce, and information security versus physical security.

Moreover, 66% of companies have never tracked missing customer data and still fewer (32%) ever inventoried personal information.

Related article: ID Theft Victims Will Double In Next Four Years

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