Symantec Report Identifies Shortcomings in Approaches to Mitigating IT Risk

Symantec Report Identifies Shortcomings in Approaches to Mitigating IT Risk

Symantec Corp. (NASDAQ: SYMC) today released the Symantec IT Risk Management Report, highlighting that 60 percent of respondents expect at least one major IT incident per year that could halt or disrupt a critical part of the business. The Symantec IT Risk Management Report, a new report aimed at helping executives and IT operational personnel understand the critical elements involved in an effective IT risk management strategy, is based on input from quantitative and qualitative survey research conducted over a twelve month period ending October 2006. Symantec collected information from more than 500 respondents from IT managers to top IT executives in organizations with worldwide operations, in a wide representation of industry segments.

“The ING Renault F1 Team’s IT infrastructure is critical to our relationships with customers and partners and therefore, we are committed to managing IT risk as part of our larger business strategy,” said Graeme Hackland, IT manager, ING Renault FI Team. “In today’s environment, understanding our exact risk profile and how we can better prioritize our resources to ensure an effective IT risk strategy is top of mind.”

Organizations Anticipate Security Breaches, Incidents: The Symantec IT Risk Management Report survey data indicated that a majority of respondents expect to be impacted by some type of security or compliance incident in the next one to five years. Specifically, 66 percent of respondents expect a major regulatory incident at least once every five years. Additionally, 58 percent of respondents expect a major data loss caused by events such as data center outage, corruption of data, or breach of security systems, at least once every five years.

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