CA: Banking and finance switched onto security

They may be the worst hit by security attacks, but a new client-based report by Computer Associates (CA) has found banking and finance companies are also the most security conscious.

According to the latest CA quarterly security report, 40 per cent of those surveyed from the banking and finance sector had experienced 20 or more virus attacks this year. These sectors were well prepared however, with all respondents indicating they had a security policy in place that reflected their companies' business needs, CA head of research and development Eugene Dozortsev said.

Dozortsev said almost 40 per cent of these companies spend between 15 and 25 per cent of their current IT budgets on security-related issues.

"80 per cent of these policies covered laptops and other mobile computing devices - which was well above the 58 per cent for all industries," he added.

60 per cent of responses from the banking and finance sector said they will also be increasing their IT security budget this year. This exceeded the report average of 47 per cent.

In addition to its findings on the banking and finance sectors, the CA report found 50 per cent of IT &T companies surveyed did not have a security policy which covered mobile computing devices.

Alarmingly, of the companies which experienced more than 10 virus attacks this year, only half reported having boards aware of the IT security policy and implications. More than a quarter of all survey respondents said they were still without adequate IT security policies which reflected their business needs.

Overall, the report identified intrusion detection and hacking as the biggest security concerns for organisations.

CA's quarterly security report is based on the responses of its clients both in Australia and New Zealand.

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