Cultural shift needed to embed data security enforcement


A "significant cultural shift" is needed at many financial institutions to properly grasp data security, says Ed Powers, a partner at Deloitte's security and privacy practice.

Deloitte's 2010 Financial services global security study has shown a marked increase in awareness of the importance of data security in the financial services industry over the past 18 months, but suggests many institutions have yet to fully grasp the issue of safeguarding data.

"One of the areas in which there seems to be

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