14 DAY TRIAL // I've seen many people that blog about security saying that this aspect in their country has got to be the worst. Well, that's not true, unless you live in the Asia Pacific zone. This area comprises Australia, Brunei, Cambodia, People's Republic of China, Fiji, Guam, Indonesia, Kiribati, North Korea, South Korea, Laos, Malaysia, New Zealand, Northern Marianas, Palau, Papua New Guinea, Philippines, Samoa, Singapore, Thailand, Timor-Leste, Tonga, Tuvalu, Vanuatu and Vietnam. Geographically, this includes Japan as well, but they have great security, so the study results do not include them. So, as you can see, the area is quite large. Sure, in some of these countries, cyber-security is as good as it can get, but there are others that pull the leaders down.
As a study by Deloitte has it, financial institutions in this area are the worst when it comes to cyber-security, but at least they have great privacy compliance. And in case you were wondering who has the best cyber-security - it's Europe, Middle East and Africa, as results from the same study.
"The contradictory findings in this year's survey highlight the security paradox financial institutions are facing," says Adel Melek, DTT's Global Leader of IT Risk Management and Security Services, Global Financial Services Industry (GFSI) Group. "On the one hand, it is clear that respondents have identified the major security issues and the necessary actions they must take to improve security and privacy practices. On the other hand many financial institutions are falling behind when it comes to taking action."
"Despite these gaps, identifying the problem is at least half the battle and so financial institutions are definitely moving in the right direction to close these gaps," adds Melek. "Security training and awareness, along with access and identity management of employees, clients and suppliers and data protection are among organizations' top initiatives this year as they fight to keep pace with the ever-changing threat landscape."