IT security threats are becoming ever bigger in their scope and ever more ingenious. CIOs need to pay special attention to IT security if they want to keep the company they work for and its data safe.
As the use of IT solutions among organisations expands and users gain access to more and more corporate information from multiple devices, some of which belong to the users themselves, the IT security challenge is getting tougher.
According to a report by UK-based IT industry analyst firm Freeform Dynamics, many users don't fully grasp the concept of security and this can be as threatening as malicious intent and targeted attacks. Poor end-user IT security can also lead to financial costs, with fines for data breaches rising. And if valuable intellectual property has been affected, that can have damaging long-term effects on the organisation. It is the job of CIOs to raise awareness about the importance of training users to understand not only what to do to boost IT security, but why it is vital that such processes and practices be implemented in the organisation.
The UK's Financial Conduct Authority (FCA) recently expressed concern about cybercrime and the reliability of technologies in the banking sector in general. Together with the Prudential Regulatory Authority and the Bank of England, the FCA is planning to conduct a year-long review of how well UK banks are coping with their exposure to technology risks and how fit their IT systems are to protect them.
Whether inside the financial services sector or outside it, the task of achieving a good level of IT security remains critical. If CIOs don't raise security awareness among users and don't train them properly, even the best technology can't help their organisations stay protected.