Report: Companies' IT security too lax

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MONTREAL, Dec. 8 (UPI) -- The majority of Canadian companies aren't budgeting enough for adequate IT security amid a burst of new mobile technology, Ernst & Young said Thursday.

In its Global Information Security Survey released in Montreal, the company said 83 percent of Canadian companies are concerned with heightened security risks, but 63 percent reported they don't have sufficient budget to appropriately secure their IT infrastructure.

"The introduction of personal smartphones and tablets, combined with the increasing demand for access to social media has opened up several new attack vectors for Advanced Persistent Threats, which are a well-resourced, highly capable and relentless class of hacker," said National Leader for IT Security Advisory services, Gaetan Houle. "Given the rapid evolution of APTs, most companies would probably be better off outsourcing the monitoring of their Internet traffic to the pros."

Many executives reported they were particularly concerned with employees' use of social media, which Ernst & Young recommended not be dealt with by blocking, which could impede competitiveness.

"The lack of an integrated information security policy for both access to and use of social media may prevent companies from keeping pace with competitors and may be creating a sense of mistrust with employees."

Instead, Houle said companies should be monitoring employees' activity on social media as part of the security regimen.