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Global Technology Companies 'Treading Water'

Deloitte global survey reveals need for increased security and privacy investment in 2008

SAN JOSE, Calif. -- Companies in the Technology, Media & Entertainment and Telecommunications industries are overconfident and under prepared to prevent security breaches, according to a new Deloitte survey.

The 2007 global security survey of more than 100 TMT organizations reveals that 46 percent of TMT companies surveyed do not have a formal information security strategy in place.

Despite this lack of a formal security strategy for nearly half the respondents, 69 percent report they are "very confident" or "extremely confident" about their organization's effectiveness at tackling external security challenges.

"The technology, media & entertainment and telecommunications industries are still in a reactive mode when it comes to their approach to security," said Rena Mears, Deloitte global and U.S. privacy and data protection leader. "A prerequisite for effective information security is the implementation of a proactive information security strategy that is closely linked to the company's overall business strategy, business requirements, and key business drivers."

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