Cyber security to be an expensive game

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MARK BLACKWELL MANAGING DIRECTOR XIT2

It’s been a busy few weeks for the government. As well as the public sector cuts, the national security strategy will now focus on cyber terrorism in the run-up to the Olympics.

Good news you might think, but this is about to start a war for employing the limited number of cyber forensics experts in the UK.

Top brass in IT security will be snapped up to protect London from cyber terrorists bringing the games crashing down in a wave of viruses, bugs and Trojans.

As top IT security personnel are generally found in the big banks and lenders or in specialist consultancies, the mortgage industry will lose out.
IT recruiter Greythorn says there are only 2,200 people qualified for top level IT security roles in the whole country.

And if businesses in the mortgage industry are going to compete with demand from the government for these IT wizards, they are going to have to delve deep into their pockets. Salaries will have to rise in the private sector, so expect a bidding war.

With inhouse IT costs set to rise, the mortgage and property industry must ensure any third party looking after the integrity and security of data maintains a cost-effective but vigilant service. Security must not be compromised by the desire to save cash.

Identifying cyber terrorism as a primary threat to UK security should be a warning to those who handle and distribute sensitive customer information that optimising your protection from theft and fraud should be a top priority.

Not all businesses will be able to fork out for the top flight computer experts but there is still plenty that you can do to protect yourself from online threats.