Banks 'fail to protect IT systems'
Nearly 40 per cent of banks have suffered a major IT security breach in the past year despite investing heavily in IT security practices and technologies. The Deloitte & Touche survey of 35 per cent of the world’s top 500 global financial institutions contradicts the common belief that most security breaches come from inside sources. Of the 39 per cent of respondents who reported a substantial security breach, only 10 per cent said these attacks came from employees. Gerry Fitzpatrick, a partner in Deloitte & Touche’s enterprise risk service unit, said the 39 percent figure may appear low when compared to other surveys which show that nearly 80 percent to 90 percent of Fortune 500 companies and government agencies have been breached. Full Story