Financial institutions' hacking rate high

Friday, 20 June 2003, 1:41 AM EST

A global survey has revealed that 39 percent of financial institutions experienced at least one security breach within the past year. Deloitte Touche Tohmatsu's Global Security Survey -- released today -- revealed the disturbing figure, of which two-thirds were breaches of security from outside the organisation.

Australian organisations that were surveyed described themselves as relatively conservative in their adoption of technology, with risk-averse banks assessing the adequacy of security when making technology choices.

"Australian banks have invested heavily in information security and it's clear that security remains a high priority for the industry in Australia," said Stephen Ford, Australian spokesperson for the Global Information Security & Privacy Services, Global Financial Services Group. "This is demonstrated by the level of capital investment, increasing security staffing levels, and the rising seniority of security management positions," he said.

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