Technology, media and telecommunications (TMT) companies are not keeping up when it comes to dealing with security threats, according to a new report published on Tuesday by consulting outfit Deloitte.
In a report titled Protecting the Digital Assets, Deloitte TMT risk services partner Craig Mitchell said the survey revealed that although security is the top concern for companies in these sectors, they are not fully protected and are reacting to developments rather than proactively preparing for emerging threats.
"While TMT security executives say that security is a top concern, more than half of security executives surveyed admit their security investments are falling behind the threats or at best just catching up.
"Only 47 percent of respondents said they were very confident that their infrastructure is properly protected against internal attacks, as opposed to almost two-thirds (63 percent) admitting they felt adequately protected against external attacks" said Mitchell in a statement.
Dean Kingsley, risk services partner at Deloitte, said the TMT sector revolves around digital information, which is "inherently vulnerable" to a cyberattack.
"Telecommunications operators are the gateway into the digital home and office, and media companies are increasingly creating and distributing content digitally," said Kingsley, who painted a worrying picture for the verticals.
"Many TMT companies have not kept up with advances in technology when it comes to security, and few are spending what is needed... The majority of TMT companies surveyed stated they are 'reactive' when it comes to investing in information security, and only four percent believe they are doing enough to address the problem," he added.
The report is based on a survey of 150 companies in 30 countries and was carried out in the first half of this year.