IT security spend should not be reduced
Fri, 16 Oct 2009
Now is not the time for firms to slash their security spend, according to one business expert.
William Beer, director of the One Security practice at leading professional service firm PricewaterhouseCoopers LLP, said that although all budgets are under pressure due to the recession, firms cannot risk ignoring IT security issues.
He claimed businesses face "a host of new and emerging threats" ranging from complex malware to attacks from cyber-criminals and e-espionage, all of which can result in material loss and reputational damage.
Mr Beer added that the eagerness of many firms to move to digital business models increases the level of danger.
"Where core information assets, such as customer data and intellectual property, may be shared with business partners and outsourced suppliers, often in other countries... this adds another dimension to the risks involved," he said.
Earlier this month, Tom Ilube, chief executive officer at online information firm Garlik, warned that a degree of complacency could be setting in where IT security is concerned.
He said that while net fraudsters are using increasingly advanced techniques to access banking details, many consumers are failing to take the precautions they should.
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