This is Deloitte’s fifth annual survey of information security practices in the financial services industry, and was gathered from interviews and on-line surveys with over 100 of the world’s largest financial services institutions. 

This year the survey reveals the ‘Security Paradox’ – a situation in which Business Executives are becoming more aware of IT Security issues, but where support for a solution still lies with the IT department. This is highlighted by the fact that only 63% of respondents have an information security strategy, and only 10% have information security led by a business line leader.

Other findings of this year’s survey include:

•  91 percent of participants are concerned about employee security weaknesses
• 79 percent of participants cite the human factor as the root cause of information security failures
• 66 percent of participants do not feel they should be accountable for protecting computers of customers who transact with them on-line.