TalkTalk might be getting all of the negative headlines but a new survey among security professionals working in the financial services sector reveals that 90% feel vulnerable to security breaches and 44% have actually experienced one – nearly 20% of them in the past year.

The findings come in a financial services edition of Vormetric's 2016 Data Threat Report, carried out in conjunction with 451 Research.

Regulatory compliance remains the top security spending priority (with 56% citing it), but preventing data breaches and measures to ensure best practice (both on 50%) are not far behind. The main barriers to adoption of better data security were cited as complexity at 68%, and lack of staff at 35%.

And despite nearly three-fifths (59%) of those surveyed planning to use big data, only a third (33%) view these implementations as presenting a top three risk for loss of sensitive information.

Vormetric vice president of marketing Tina Stewart said: “Financial services organisations continue to feel the heat from cyber attackers. They are investing to help solve the problem, but surprisingly, are failing to connect the dots about the best solutions to use. With the world’s financial data in their custody, the most effective way to protect this information, once networks and systems are penetrated, is to enhance data protection investments.”