The real cost of a security breach
Global Secure Systems' David Hobson examines the hidden expense of a data breach, both the tangible and intangible costs. Information assurance is business critical and for many organisations the data they own is their key asset. So why are so many failing to treat it as such?
In its 2006 annual report for the fiscal year ended 27 January 2007, T.J. Maxx recorded a pre-tax charge of approximately $5 million for costs incurred in connection with the computer intrusion it formally disclosed in January 2007. This charge covers actual costs incurred to investigate and contain the breach, strengthen its computer security and systems, and communicate with customers, as well as technical, legal, and other fees. $5 million may suggest that it got off lightly but is this just the tip of the iceberg? IT security in the early 1990's was relatively simple. Data was stored on m… More…
A Compelling Argument for Automated Code Testing
Professor Howard A Schmidt, Director of Fortify Software, argues the golden age of hackers and cybercriminals driven by a desire to embarrass website owners or cause mindless e-vandalism is hopefully a fading memory. Today, e-crime is the domain of organised gangs, often from countries that are difficult to get help from, with a sole motive – to steal money and goods
According to Gartner, 75% of security breaches are due to flaws in software. One of the major security problems faced by organisations today is that the business applications needed to run the business are also the very applications making it insecure. Cybercriminals have identified this and are now focusing all their attentions on application-layer vulnerabilities. It's a problem that simply can't be ignored. The main target of cybercrime today is e-commerce web sites and the customer databases behind them. Databases that hold credit card numbers, expiry dates, PINs, addresses, and everythin… More…
Protecting employees from terrorist attack abroad
Employees who are travelling abroad are more vulnerable to terrorist attack. The Anvil Group's Matthew Judge sets out good business practice to minimize the threat
Terrorist acts occur unpredictably, making it impossible to protect yourself entirely. The first and best protection is to avoid travel to areas where there has been a persistent record of terrorist attacks or kidnappings. Most terrorist attacks are the result of careful planning. Terrorists are looking for the most accessible targets as well as ways to create impact and attention. Though there has been wide spread reporting of terrorist acts recently, it is worth noting that most of these efforts are centralized to certain areas. Where countries like Iraq and Afghanistan will be suscep… More…
Harnessing voice talent
VeCommerce's Brett Feldon explains why the unique characteristics of voice biometrics can help in the fight against fraud, money laundering and terrorism and how Australia is pioneering the developing technology
There is no doubt that fraudulent activity is growing at an alarming rate. In 2004 the UK's fraud prevention service CIFAS said it found 7,200 cases where fraudulent applications were successful in obtaining an insurance policy or credit agreement. By 2007 this number had rocketed to 14,500 and the numbers of cases logged had risen by more than 24% compared with three years ago, costing UK businesses an estimated £1.7bn every year. In addition to gangs of professional fraudsters, organizations are also having to act against dangers from more nefarious quarters including… More…
