Deloitte & Touche’s 2003 Global Security Survey examined the security at 80 Fortune 500 financial companies, and found that 90% of security attacks are coming from external sources.
‘For as many years as I can remember, internal attacks have always been higher than external,’ said Simon Owen, Deloitte & Touche partner responsible for technology risk in financial services.
‘Sixty to 70% used to be internally sourced. But most attacks are now coming from external forces and that’s a marked change.’
The report showed that 39% of respondents experienced a security breach in the past year, and only 10% of those were generated internally.
‘As organisations become more connected there are more doors people can rattle to get in,’ said Owen.
There seems to be an increased awareness of security, but it is not as widespread as it should be. Some 80% of respondents said they had a security policy, but only 47% of those companies said the strategy was ’embraced by line and functional leaders’.
‘The majority of organisations have a security policy, but the majority said the organisation doesn’t buy into it,’ said Owen. ‘We have to raise the gambit and education is needed to stop the security department churning out paper and nobody taking any notice.’
And banks do not fully understand what a major security attack could do.
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia