More than 250 financial services companies in 39 different countries were surveyed, focusing on identifying levels of perceived risks, the types of risks with which organisations are concerned, as well as the resources used to mitigate these risks.
Despite the challenges of balancing the cost of security enhancement initiatives with perceived risk of sophisticated threats and emerging technologies, the surveyed organisations said they have become more proactive in implementing innovative security measures and creating greater risk awareness within their business.

Among the results, three key findings stood out:

• Over 50% of respondents indicated that they have a strong working relationship with operational risk management
• As the use of social media increases, 37% of respondents are revising organisational policies and 33% are educating users on social networking to address the security risks
• 49% of the organisations surveyed claim to actively manage their vulnerabilities, with 82% also actively researching new threats to protect their environment against emerging threats

According to Roland Bastin, partner at Deloitte Luxembourg: “Despite the challenges of balancing costs with perceived risks, information security remains an essential concern.”

The complete survey conclusions and further highlights of the analysis are available on the Deloitte website: www.deloitte.com/lu/cyber-security.