Business security efforts are lacking

Technology, media and telecommunications businesses must increase their security efforts and investments; this according to the 2007 TMT global security survey from Deloitte Touche Tohmatsu.

The survey, Treading Water, TMT companies may be averting security crises by are not getting in front of the problem,’ reveals business-wide operational and technical challenges among TMT companies around the world that may have met basic standards in the past, but will not be able to meet the challenges to come in 2008 and beyond, states a press release.

‘The goal of the latest TMT Global Security Survey is to help TMT companies gain a better understanding of the security challenges and threats that the industry is already facing and to provide a preview of the challenges looming on the horizon,’ explains Alee Fa’amoe, Chief Operating Officer of Deloitte Cayman.

The global survey respondents included TMT companies from across all three sectors, 44 per cent of which employ between 5,000-50,000 employees and 47 percent of whom report revenue between US$1 billion and US$10 billion.

Survey findings revealed that TMT businesses must increase their security efforts and investments to get in front of a security crisis. That being said, the survey reveals that the majority of TMT companies are managing to keep their heads above water. In the 12 months preceding the survey, most companies successfully avoided a major security crisis – with 69 percent of respondents saying they are ‘very confident’ or ‘extremely confident’ about their organization’s effectiveness at tackling external security challenges.

However, only 56 per cent display confidence in addressing internal threats.

‘The most dangerous threats come from within,’ explains Mr. Fa’amoe. ‘This is a threat most companies are in a position to control.’

TMT companies may also be developing a false sense of security about are digital rights management, security and the mobile workforce and physical security vs information security. According to the survey results, TMT companies are built on a base of physical assets, (buildings and infrastructure) and information assets (such as digital content), yet most companies continue to treat physical security and information security as separate and distinct – which means they could be missing out on some important opportunities.

The global survey also reveals the attitudes of these global TMT organizations toward developing a governance framework around security. For instance, the number of CISOs, Chief Information Security Officers appointed in the companies surveyed increased from 57 percent to 65 percent in the past year. This type of leadership to drive the information security governance framework reveals a long-term commitment to information security among global TMT companies.

Other pre-requisites for effective information security revealed by the respondents are strategy, compliance with regulatory requirements designed to improve information security and reduce risk, measuring the effectiveness of information security governance and reporting results.

With a broad range of technology choices and dozens of elements of today’s business environment challenging information security each day in TMT companies, the amount of detail can be overwhelming. This year’s survey reveals a focus on all of the different aspects of information security, from having the technology in place, to establishing protocols to react to security breaches, to the effect of the talent crisis on the information security of a company.

‘The bottom line, there is a lot of work to be done,’ concludes Mr. Fa’amoe. ‘Increasing security efforts now will make all the difference when that next security threat reveals itself on the horizon.’

To obtain a copy of the report, refer: www.deloitte.com/tmtsecuritysurvey

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