Two-fifths of financial institutions broken into

A global survey has revealed that 39 per cent of financial institutions experienced at least one security breach within the past year.

Deloitte Touche Tohmatsu's Global Security Survey, out today, reveals the disturbing figure, of which two-thirds were breaches of security from outside organisations.

Of the institutions surveyed globally, 47 per cent have maintained or increased IT security staffing in the past two years, and 78 per cent plan to adopt Public Key Infrastructure (PKI) technologies, with almost as many planning to incorporate smart cards into their security system. Almost half of the companies surveyed have already instituted security policies related to wireless communications.

Despite this, only five per cent of respondents to the survey were "extremely confident" about how well their organisations' systems are protected from internal attacks.

However, 63 per cent of respondents reported that management perceived spending on IT security to be a necessary cost of doing business, rather than a discretionary expense. Typically, security accounts for between 6-8 per cent of an organisation's IT budget.

James Pearce writes for ZDNet Australia.