Cutting down on security expenditure is a false economy and could leave business data open to breaches, it has been suggested.

According to Neil Munroe, external affairs director for Equifax, reducing security in the post-recession climate is a short-sighted approach, as it is particularly during times of financial stress that fraud and other security issues abound.

Mr Munroe explained that people tend to get increasingly desperate and more prone to engage in illegal behaviour during times of fiscal auterity.

“Hopefully it can be taken on board that you need to step up your level of monitoring in these times, because the economic climate tends to increase the likelihood of these sorts of things happening,” he stressed.

Mr Munroe conceded however, that industry surveys are showing that marketers and businesses in general are becoming smarter in the way that they monitor and pick up security breaches.

A recent study from ABM found that half (52 per cent) of all businesses surveyed have experienced an increase in theft over the last two years.

Posted by Suzanne Stock – Communications Director, HR, Online Advertising, General Marketing

Related Topics: Business Data & Lists