A survey of top financial services firms by Deloitte & Touche showed that a majority of financial institutions have suffered external attacks within the past year but many don't expect their security budgets to grow.
Eighty-three percent of respondents reported that their systems had been compromised in the past year, compared to 39 percent in 2002, according to Deloitte's annual Global Security Survey for 2004, published this month. Of that group, 40 percent said the breaches resulted in financial loss.
Twenty-five percent of those queried reported flat security budget growth.
Only 87 percent said they had fully deployed antivirus systems while more than 70 percent believe worms and viruses pose the greatest threat to their networks in the next year.
Sixty-seven percent reported they have a program for managing privacy compared to 56 percent last year while 69 percent said they felt senior management is committed to security projects that address regulatory requirements.
The survey was conducted through face-to-face interviews with senior IT executives at the top 100 global financial services organizations.