| Security budgets fail to keep pace with the increasing threat
According to the survey, 88 percent of respondents believe that the security risk to their business is increasing. However, 63 percent of those surveyed say that their security budget has not increased in line with this threat. Securicor surveyed security managers from leading UK financial institutions and FTSE listed corporations. The research reveals that almost a third of companies (31 percent) have experienced a serious security incident in the first quarter of 2004. Incidents reported included activist group activity, terrorist attacks, kidnap and ransom. Of those surveyed 50 percent viewed pressure on security budgets as the greatest barrier preventing their business from adequately preparing to deal with security risks. Douglas Greenwell, marketing director
of Securicor Security, said: “It is surprising that security
budgets are not growing at a time when the perceived security risk
is increasing. It is important that there is board level recognition
of the importance of a cohesive security strategy. When deciding
security budgets companies need to consider not only the primary
costs of any incident, the costs to damaged property or assets,
but also the consequential costs. For example, loss of reputation,
or damage to a company’s brand, can have a far greater and
long term impact than physical damage to a building or facility.”
•Date:
25th May 2004 •Region: UK •Type:
Article •Topic: BC
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