Elsewhere, it found that 94 per cent of respondents allocate less than seven per cent of their total budget to IT security and only 29 per cent of respondents believe that their security spending is on plan.
James Alexander, partner in Deloitte's Security and Privacy team said: “It is clear that the current business climate requires TMT companies to focus on driving unprecedented levels of cost efficiency. However, companies that under invest in security now may find themselves vulnerable and unable to keep pace with the growing threats from increasingly sophisticated attacks and emerging technologies.
“Information and intellectual property are the lifeblood of a TMT company, protecting these precious assets, often in open and collaborative business environments, must be the imperative for organisations.”
See original article on scmagazineuk.com