Technology, media and telecoms (TMT) firms are struggling to keep pace with the growing volume and sophistication of cyber threats, with a staggering three-quarters claiming they had been breached over the past year, according to the latest report from consultancy Deloitte.
The firm's fifth annual Global TMT Security Survey found the number of successful attacks had risen 13 per cent from the previous year, with the technology industry hit particularly hard.
Some 18 per cent of tech companies reported between six and 20 information security breaches over the past year, more than double that of media and telecoms firms.
Deloitte cyber security partner, James Alexander, argued that budgetary pressures are to blame in many cases for the increase in security breaches.
"Organisations are still subject to budgetary pressures and as part of that, information security budgets have stayed static and been quite limited," he told V3.
"Organisations are suffering from attacks. The effects are far more pervasive and business-affecting and information security is struggling to cope with the demands placed on it."
The past 12 months have been notable for some big-name security incidents at tech firms, including the breach of Sony's systems, which led to the exposure of up to 100 million customers.
The research also found that a quarter of CISOs surveyed do not report to senior management, highlighting that security is still not integrated enough into many businesses in the sector.
"It's a two-way street. Engagement from the business needs to be improved and how IT engages with the business also needs to be improved," said Alexander.
Mobile devices were the clear winner when it came to naming the top security threats facing organisations in the sector over the coming year, driven by the consumerisation trend increasingly pervading organisations.
"How IT and security teams manage that risk is a key area because the perimeter is less of a reality than it was before," he added.
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