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The 2012 Global Financial Services Industry Security Study: Breaking Barriers

Deloitte Touche Tohmatsu Limited’s (DTTL) 8th global financial services industry security survey once again confirms that information security is a top priority for financial services industry organizations globally. And despite the challenges of balancing the cost of improved security initiatives with perceived risk of sophisticated threats and emerging technologies, organizations say that have become more proactive in implementing innovative security measures and creating greater awareness within their business, which is hopefully good news for the 25 percent of financial institutions that suffered a breach in 2011.

The top three findings in this year’s survey were:

  • Increased coordinated activity among security and business groups: almost two thirds of respondents believe that their information security function and business are engaged; most organizations are using a Security Operation Center (SOC) model to monitor traffic and data and actively respond to incidents and breaches.
  • Growing adoption of new technologies and security innovation: as the use of social media increases, 37 percent of respondents are revising organizational policies and 33 percent are educating users on social networking to address the security risks.
  • Policing cyber threats and due diligence with data assets: almost half of the organizations surveyed (49 percent) claim to actively manage their vulnerabilities, with 82 percent also actively researching new threats to proactively protect their environment from emerging threats.

More details can be found in the survey report ‘The 2012 Global Financial Services Industry Security Study: Breaking Barriers.’

•Date: 12th Sept 2012 • World •Type: Article • Topic: ISM

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