An unsettled workforce and lack of funding could create ‘perfect storm’ for increased security breaches
The global economic crisis hitting the financial services sector is also fuelling a growing information security risk. According to the latest Deloitte Global Security Survey 2008, released today, security attacks that exploit human error and breaches caused by distracted or disgruntled employees are likely to be the root cause of information security failures in coming months. The majority (86%) of respondents to Deloitte’s sixth annual Global Security Survey confirmed that human error is the leading cause of information systems failure. This recognises that people are both an organisation’s greatest asset as well as its weakest link, and is particularly relevant in today’s economic climate where job insecurity and increased stress levels may lead employees to behave in unusual ways.
While both internal and external security breaches at financial institutions worldwide have fallen over the past 12 months, employee misconduct is a growing concern for these organisations. More than a third (36%) of respondents expressed a greater level of concern about insiders’ misconduct, compared to only 13 per cent who were more concerned about external people’s misconduct. Furthermore, six in ten (58%) survey participants felt ‘not very’ or only ‘somewhat’ confident with their ability to protect their organisation from internal cyber-attacks.
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