People Main Source for Financial Data Breaches

According to Deloitte, people are the primary source of data breaches in banking security in the UK.

The survey, of Top 100 financial services companies, found that employees and customers are the key sources of security breaches. Nearly one third of respondents could tie a security breach to employee misconduct or error. It’s no surprise, therefore, that 91% are concerned about the internal / people risks to business security.

More than half of the respondents – 65% – have experienced an external security breach. Customers are often at fault for these, with a lack of awareness and anti-virus protection on their computers. Viruses, spam, worms and identity theft scams all are directed at consumers, who are less aware of the risks and therefore more vulnerable.

A red flag result of the study: less than two thirds of surveyed companies have an IT Security strategy in place, and nearly one quarter of companies provided no security training in the past year.

Mike Maddison, UK head of security and privacy services at Deloitte, said: “You can have the best technical systems in place, but they are unlikely to operate effectively unless you educate people on their obligations and how to fulfil them.”

More and more, surveys are showing just how many security breaches are due to poor security policies and training, yet, many businesses still fail to address these basic issues.

Via mirror.co.uk Tags: data breach, financial data breach, financial industry, data security, it security, business security