IT security budgets immune to credit crisis

13:01 16th October 2008

The global financial crisis is unlikely to affect investment in information security, a new survey by the consultancy group Ernst & Young has suggested.

Ernst & Young's 2008 Global Information Security Survey also disclosed that many businesses now appreciate the link between information security and a strong reputation.

The poll, which questioned 1,400 senior executives, revealed that 50 per cent of respondents plan to increase investment in security protection, while only five per cent intend to reduce their annual IT security budget.

Paul van Kessel, global leader of Ernst &Young's security risk services, believes that companies are recognising that security cutbacks will have an adverse effect.

He said: "Overall, the results of this year’s survey are encouraging. Most now believe that security threats and attacks increase during an economic downturn."

Earlier this week, the House of Lords' Science and Technology Committee renewed calls for the government to act on cyber crime controls.