[ISN] UK plc reamed online

From: InfoSec News (isnat_private)
Date: Fri Apr 19 2002 - 01:18:20 PDT

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    By John Leyden
    Posted: 16/04/2002 at 11:22 GMT
    A lack of investment in security systems is allowing British companies
    to fall victim to increasing severe security breaches.
    That's the main finding of the Department of Trade and Industry's
    (DTI) annual Information Security Breaches Survey, which concludes
    that the average cost of a security breach is 30,000, with several
    companies reporting incidents which cost more than 500,000.
    The survey, led by PricewaterhouseCoopers on behalf of the DTI, shows
    that three-quarters of UK businesses believe that they hold sensitive
    or critical information, but only one-quarter have a security policy
    in place to protect it.
    Senior managers identify security as a high priority but there's a
    marked difference between this, and actually doing something about it.
    This lack of attention to security is cited as the main reason that
    the number of UK businesses that have suffered a malicious security
    incident since 2000 has almost doubled. Half of companies (four out of
    five large businesses) fell victim over the past year to viruses,
    hacking attacks, fraud, and other information security breaches
    compared to one quarter in 2000 and less than one in five in 1998.
    The survey, which it has to be pointed out was conducted in
    association with security vendors, suggests UK businesses are not
    spending anywhere near enough to protect the business that they are
    doing online. Less than one quarter of those quizzed spend more than
    one per cent of their IT budget on security, against a "minimum
    reasonable level" of three to five per cent.
    The findings come from a survey, conducted between October 2001 and
    January 2002, which involved 1,000 telephone interviews; 100 face to
    face interviews; and answers to an online questionnaire.
    Full results of the survey will be made available during the
    Infosecurity Europe 2002 conference on 23 April.
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