Financial services companies can tighten-up security in the space of a few months by installing an e-mail encryption system.
Sten Kalenda, security manager at security specialist Roccade Megaplex, said financial services firms needed to move away from the traditional IT world of password-protection towards encryption and digital certificates.
He added that e-mail encryption products were easy to roll out, particularly if the IT department pilots the system first. "It is cheap to install and should be operational within a couple of months," he said.
Many digital certificates, used to authenticate the users identity are free. But Kalenda warned IT departments that they risk being bogged down in time-consuming updates of digital certificates. "When you have to renew the certificates you want to do this automatically, he said. "You don't want the system administrator working for 10,000 people."
But, despite recent high profile problems, Kalenda said UK banks are doing a good job with security.