Over 80 percent of firms have admitted they are vulnerable to attack, according to a new survey of IT chiefs by encryption specialist SafeNet.

The firm questioned 1,200 IT managers and security professionals and found that over 20 percent do not have any faith in the security policies and technology protecting their network, while a further 60 percent said they do not have full confidence in it. Only 19 percent said their IT security was "fully secure".

This is illustrative of the fact that many firms are not diverting enough resources into network security, according to SafeNet's Kane Hardy.

"Most IT managers would, given the opportunity, know how to secure their networks," Hardy said. "It's down to having the appropriate budget and backing and for that they need the support of the board. Until securing corporate data is raised up the list of priorities, we'll continue to see surveys like this."

But Alan Rodger of analyst firm Butler Group said that IT managers need to establish a compelling business case, with a risk-based approach to security, if they are to gain board buy-in for greater investment.

Rodger added that internal security risks such as employee misuse and theft of sensitive corporate data should also be high on every IT security chief's list of priorities."This threat is just as important to combat but needs an entirely different approach [involving] identity and access management solutions," he argued. "If I were the CEO and my IT manager said we were not vulnerable I'd be concerned because every firm is, and complacency is the worst thing you can have."

Meanwhile, endpoint security vendor Safend has announced new software to protect enterprises from data loss and leakage through USB memory keys and other devices. Safend Protector 3.0 features intrusion protection and auditing capabilities and a centralised management console, according to the firm.