RealNews

Finance houses struggling against hackers

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. 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.” Full Story

OODA Analyst

OODA Analyst

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