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REPORT: MANY COMPANIES STILL GIVE SECURITY SHORT SHRIFTSource: Security Wire DigestPosted on May 8, 2003 Information security spending still makes up just 3 percent of overall IT budgets at the largest enterprises, barely enough to buy the basics for protecting critical data, according to a report from Nemertes Research. New York-based technology research firm Nemertes found that 19 percent of companies with $1 billion or more in annual revenues dedicate less than 1 percent of their IT budgets to security initiatives. President and chief research officer Johna Till Johnson says "underspending" on security is a "significant concern" given the confluence of regulatory changes, such as the Health Insurance Portability and Accountability Act and the Sarbanes-Oxley Act, a renewed overall focus on network and data security after the 2001 terrorist attacks. And it's not that companies aren't aware of security issues. Three-fourths of the security executives surveyed cited access control, authorization, security auditing and identity management as their top priorities. Nemertes says a majority of the companies it queried have successfully deployed at least one security technology in the past year, with firewalls, virus scanners and VPNs cited most often.
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