IT security risk still growing

There was a day when executives tended to discount the value of IT security, but that has changed dramatically in recent years, as big companies become humbled by attacks on their networks.

The risks these days are readily apparent, especially in the financial services industry, which has been under near constant DDoS attacks for months. A recent survey by Turnkey Consulting, as noted by ComputerWeekly.com, found that the perception of risk is continuing to grow.

About 44 percent of the executives believe their organization faces more risk than it did a year ago, while 32 percent think this risk is the same. Almost a third said they had experienced fraud incidents in the past year, but just over a third had not. The remainder said they did not know. The survey also found that IT pros regard insider fraud as a huge issue.

Perhaps the biggest change is that there is now a consensus that security is an issue that extends beyond the IT guys. It's a sign of progress that both IT and non-IT professionals see it that way. All in all, it would be nice to see more rigorous work on the specific returns on IT security investments. Given the costs of breaches, it may be hitting sky-high levels, which is great for security vendors.

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