2012 Global Financial Services Industry Security Study
The 2012 Global Financial Services Industry (GFSI) Security Study, Breaking Barriers was published in September 2012. This is Deloitte’s eighth survey of information security practices in the financial services industry. The information was gathered from interviews and online surveys with over 250 of the world’s largest financial services institutions in 39 countries. This document is intended as a tool to help those in the financial services industry assess and understand the state of information security and privacy in their organizations relative to comparable financial institutions around the world.
"In the last five years many banks have made good progress in information security, but the future holds more challenges for them, from a threat perspective as well as from a pragmatic, economic perspective having to continue to get better at managing security." — Deloitte & Touche LLP Principal Ed Powers, quoted in “Financial Services Firms Struggle to Meet Evolving Cybersecurity Threats, Survey Finds,”Bloomberg BNA, September 18, 2012.
The study reveals three major key findings that will dominate the financial services industry this year. They are:
- The barriers and silos that financial firms will begin to crumble to establish stronger relationships and coordinated activities between the information security function and businesses.
- The adoption of new technologies will require constant security innovation.
- The increasing need for policing cyber threats to safeguard data assets.
This year’s study also outlines key trends and challenges faced by the Banking & Securities and Insurance sectors survey respondents.
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