More technology, media and telecommunications (TMT) businesses are falling prey to online attacks, with a 13 per cent rise in a year.
According to a survey of 138 TMT organisations in 25 countries by Deloitte, the number of companies that have reported security breaches this year has increased from 2010 by 13 per cent to 75 per cent.
Half of the respondents (52 per cent) claimed that they consider lack of budget and personnel to be the biggest barrier to adequate information security, while three-quarters said they spend between one and six per cent of their IT budget on information security.
Also, nearly half (43 per cent) of TMT companies supporting both corporate-provided mobile devices and personal devices in the workplace said they are now investing a smaller part of their IT budget on information security than previously.
James Alexander, cyber security partner at Deloitte, said: “In today's increasingly hyperconnected world, there is no such thing as an isolated threat, and breaches in one system or organisation can quickly spread to others. Given these concerns, and regulatory pressures, budget cuts and personnel challenges, companies are not keeping up.
“Worryingly, while information security is clearly front-of-mind for companies, more than a quarter do not report to senior management. Information security across the TMT industry is a matter that requires C-level attention, and organisations must raise awareness of the issues and train employees on how to deal with them. The bar is being raised to a new level, and we need to step up.”