Banks and financials are spending millions of pounds in new measures to safeguard them from cyber crime and data breaches, but are starting to lag on physical security.

Speaking to IBTimes TV, Heyrick Bond Gunning, the former Head of Kidnap for Ransom at Kroll and now the managing director of Salamanca Group, says that it doesn't matter how much companies spend on cyber security if they 'effectively leave the doors' open.

In the exclusive interview, Bond Gunning talks to us about company spend on cyber crime, the cut backs on physical security, and how new legislation is set to transform firms' budgets over protecting themselves and clients against attacks.