Security can’t be discounted
2009 Consumer Business global security study
Consumer business organizations are the “front lines” when it comes to customer information because of the volume of personal and financial data with which they are entrusted. It is more important than ever that information security is sophisticated and cutting edge because of the very characteristics of the threats that face us. Yet, the inaugural Consumer Business global security study from Deloitte Touche Tohmatsu reveals that:
- Information security is still considered primarily a technology infrastructure issue – 51 percent of respondents identify their top security initiative for 2009 as security infrastructure improvement.
- Respondents acknowledge that their people (including third parties) are the weakest link yet there is little focus on security awareness or training. Managing insider threats received a low 10 percent ranking when respondents were asked about their organization’s top security initiatives for 2009.
- Business continuity and disaster recovery, neglected in the past, are now moving to the forefront. Disaster recovery is the second most mentioned security initiative for 2009.
- Consumer business organizations have a “last one to adopt” approach when it comes to security technology. When asked which category best describes their organization’s adoption of security technology, 52 percent of respondents state that they are “late majority”, meaning that they are content to use technology that is “proven”.
- Security budgets took a hit. In 2009, “lack of sufficient budget” is the barrier most mentioned by 54 percent of respondents, and 26 percent of respondents had their security budgets reduced.
In recessionary times, there is huge pressure to reduce costs; a large number of security budgets have actually been reduced. Recessionary times also produce unique circumstances that work against achieving good security – specifically, disgruntled and overworked employees whose inadvertent errors and omissions are responsible for much of the collective security headache faced by the industry. As counterintuitive as it may seem, recessionary times are actually when security must be made stronger and smarter.
The study surveyed large, medium and small consumer business organizations throughout the world to identify the security issues and threats that organizations face and to highlight some of the solutions and initiatives being undertaken by peer organizations. Download the report below.