4 Surprising Ways Firms Think About Data Security Costs - Wall Street & Technology

Wall Street & Technology, By Becca Lipman

According to the recent Kaspersky Lab survey of worldwide IT professionals, 93% of financial services organizations experienced cyberthreats in the past year. With the number and sophistication of cyber attacks on the rise, it's fair to say the remaining 7% are probably lying, or completely oblivious to what's going on in their systems.

The survey asked 3,900 participants across 27 countries about the obstacles they faced in managing and maintaining their IT infrastructure and in allocating resources to various issues like security and training.

"Protecting highly sensitive data," "preventing IT security breaches," and "data protection" stuck out as the top concerns of IT leaders. As the survey dove deeper into practices and priorities, it became clear that for reasons largely having to do with cost, organizations are not as eager to increase efforts in security. Read more.