IT security tough talk short on cash

Tuesday, 27 August 2002, 9:59 AM EST

Australia's IT industry is talking tough about security but it's certainly not translating into dollars with medium to large companies averaging a measly spend of A$33,000 (US$18,000) per annum.

Even more alarming is that up to forty percent of businesses have no formal written IT policy and a further 34 percent spend less than A$10,000 a year on IT systems security.

According to a survey by consulting firm CSC of 80 medium to large businesses in Australia, organizations "baulk at the initial outlay" required to invest in security despite greater awareness and concern about the impact of a serious security breach.

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