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sandy ingram

IT worker gets prison after stealing data for online surveys - 0 views

  • Between January and April of this year, Giang filled out 382 surveys before the company that was paying for them, StayWell, figured out what was going on. StayWell had been offering UC employees the gift vouchers as incentives to fill out health surveys, but it grew wise to the scam.
  • Giang only used part of the Social Security numbers of his co-workers while filling out the survey, his lawyer states in a sentencing memorandum. "Mr Giang never intended to steal their identity, and other than losing the opportunity to participate in StayWell's marketing surveys, the victims did not lose anything," says the Oct. 20 memorandum asking the judge for probation instead of jail time.
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    A former IT staffer has been sentenced to a year and a day in prison for stealing sensitive information belonging to his co-workers and using the data to make money filling out online health surveys. Cam Giang, 31, was fired from the University of California San Francisco Medical Center earlier this year after investigators discovered that he'd been using the names, birthdays and Social Security numbers of other UCSF employees to fill out hundreds of online surveys. The point was to collect online vouchers, worth US$100 each.
sandy ingram

Symantec Finds Clouds are Rolling in for Healthcare | Symantec Connect - 0 views

  • best practices are being swept under the rug. Only 31 percent of respondents archived according to HIPPA recommendations
  • Another third stored archives in a single data center and only slightly more (36 percent) stored archives in datacenters located less than 100 miles apart.
  • Hosted solutions offer an attractive alternative to the healthcare industry. Such solutions ease the burden on in-house IT, which is typically characterized by few people, limited dollars and huge workloads.
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  • These problems are becoming more of an issue, too, as the amount of data stored by providers is rapidly and unceasingly increasing.
  • Still, a few providers aren’t quite sold. The survey showed there are three main concerns from those not considering hosted solutions. First, they aren’t sold on hosted solutions’ security. Forty-three percent of respondents shared this concern, which is a common concern with the cloud. Second, 32 percent of respondents said they aren’t sure about the performance. Providers can’t afford down time, and this is a new solution with which they don’t have experience. The third concern, shared by 31 percent, is the cloud is too costly.
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    At HIMSS' annual conference this year, Symantec sponsored a survey to find out what the forecast is like for the healthcare IT industry. The consensus: cloudy. In general, the survey showed healthcare providers are beginning to see some of the needs and problems with their current situations. Of the 568 healthcare professionals who responded to the survey, 55 percent said disaster recovery keeps them up at night. This is understandable since a healthcare system is subject to HIPAA and other legal and regulatory requirements as well as having to support complex infrastructures. What makes the situation worse is that many providers don't have a solid plan. Of the systems most likely to have full-proof disaster recovery plans, only 31 percent do.
sandy ingram

SURVEY BY KROLL ONTRACK: One out of Two businesses do not erase sensitive data. - 0 views

  • "Three-fourths of businesses are deleting files, reformatting or destroying drives, or 'do not know' how they are erasing sensitive data. Deleting files from a hard drive only marks the files to be rewritten, which may never occur. Furthermore, reformatting the drive only removes the entries in the index or table of contents that point to the data. And, physically destroying a drive is not a guaranteed method of protection, as Kroll Ontrack has been recovering data from severely damaged drives, such as the Columbia space shuttle, for more than 25 years.
  • "Surveying more than 1,500 participants from 12 countries across North America, Europe and Asia Pacific regarding their data wiping practices also revealed that four in 10 businesses gave away their used hard drive to another individual and 22 percent do not know what happened to their old computer.
  • Only 19 percent of businesses deploy data eraser software and fewer, 6 percent, use a degausser to erase media. When asked if and how businesses verify their data has been deleted, very few (16 percent) reported relying on a product or service report to confirm all of their data had been wiped.
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  • "Reports that verify or confirm what the tool and/or service did are critical," concluded Reinert. "Not only do they inform you of what has been wiped, but they should identify the serial number as well as the make and model information of the wiped hard drive, the date and time of when the information was wiped, and a listing of how much information was wiped."
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    "According to a recent global survey on data wiping practices, Kroll Ontrack, the leading provider of information management, data recovery, and legal technology products and services, found less than half of businesses regularly deploy a method of erasing sensitive data from old computers and hard drives. Of the 49 percent of businesses that are systematically deploying a data eraser method, 75 percent do not delete data securely, leaving most organizations highly susceptible to data breaches, which plague businesses at least once a year according to the 2010 Kroll Ontrack Annual ESI Trends Survey and cost an organization an average of $6.75 million per breach according to the 2009 Ponemon Cost of Data Breach Study."
sandy ingram

CEOs underestimate security risks, survey finds - 0 views

  • Computerworld - Compared to other key corporate executives, CEOs appear to underestimate the IT security risks faced by their own organizations, according to a survey of C-level executives released today by the Ponemon Institute.
  • of 213 CEOs, CIOs, COOs and other senior executives reveals what appears to be a perception gap between CEOs and other senior managers concerning information security issues.
  • 48% of CEOs surveyed said they believe hackers rarely try to access corporate data
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  • On the other hand, some 53% of other C-level executives believe that their company's data is under attack on a daily or even hourly basis.
  • The survey also found that the top executives were less aware of specific security incidents at their companies than other C-level executives and are more confident that data breaches can be easily avoided.
  • CEOs and other top managers differed in their opinion of who is responsible for protecting corporate data.
  • While eight out of 10 respondents said they believe there is one person responsible for data protection in their organization, there was a sharp difference of opinion on just who that person was.
  • More than half of the CEOs said that CIOs are responsible for protecting data at their companies; only 24% of other senior managers felt the same way
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    Computerworld - Compared to other key corporate executives, CEOs appear to underestimate the IT security risks faced by their own organizations, according to a survey of C-level executives released today by the Ponemon Institute.
sandy ingram

Organisations fail to meet security awareness and compliance training best practices - ... - 0 views

  • “If this assessment demonstrates anything, it's that IT and security departments have got to gain greater visibility over all of their security and compliance activities and take steps to better understand and manage them.”
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    A survey of high-risk organisations has found that more than three quarters fail to perform quarterly security and compliance training. According to a survey by enterprise key and certificate management solutions provider Venafi and IT security research provider Echelon One, 77 per cent of respondents failed to perform quarterly security and compliance training while 64 per cent failed to encrypt all of its data in the cloud. However 90 per cent did use encryption throughout the organisation. The survey of 420 enterprises and government agencies also found that almost 100 per cent of respondents had some degree of unquantified or unmanaged risk. When asked if their organisations encrypted data stored in public clouds such as Google Apps, Salesforce.com and Dropbox, 40 per cent said they did not know.
sandy ingram

Global Survey Predicts 'Death of the Office' - 66% would take a pay cut to work from home. - 0 views

  • An even greater number, 66 percent, would be prepared to work for lower pay if a job offered more flexibility, at least when compared with a better-paid job without such flexibility. Businesses are uncertain about the move to home working, mainly because of security. According to the Cisco survey, they should also factor in some of the advantages. Almost half of those employees who do work from home reckon they put in between two and three extra work hours per day as a result.
  • Employees' dislike of offices is nothing new but what has changed is that it is now technically possible to make an employee productive without asking them to travel to a building every day.
  • It seems just as likely that the death of the office, predicted many times in the last 40 years, might be as much about the changing economics of work than any desire of employees to escape to the back room and the VPN.
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    Techworld - The office workplace that has dominated business since the 19th Century is dying and most employees would be quite happy not to work in it, a global study by networking giant Cisco has found. This is a striking theme of the Cisco Connected World Report, which found that 60 percent of employees from 2,600 surveyed across 13 countries do not think it necessary to be in an office to be productive.
sandy ingram

CIOs confused about cloud computing, survey reveals - 0 views

  • That is despite the fact that the cloud model avoids capital expenditure by providing access to virtualised resources, said the report on the survey of 270 IT executives in 12 countries.
  • Many organisations are still in the early stages of adoption despite the availability of cloud services such as unified communications, customer relationship management and virtual datacentres, said Hanif Lalani, chief executive at BT Global Services.
  • But the majority of CIOs (57%) and senior executives (53%) surveyed said they were not happy to run applications and store data on servers outside their country for security reasons.
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  • Very few CIOs (21%) think that doing business in the cloud is not a security concern.
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    "Over half of CIOs (53%) fail to see how cloud computing can save them money,"
sandy ingram

Ponemon Study: 73% Believe Cloud Providers Do Not Protect User's Confidential Informati... - 0 views

  • Growing scrutiny of cloud computing security in the first half of this year is not surprising in light of the numerous data breaches, privacy issues and headline grabbing cloud outages that have occurred recently
  • The 26-page survey report returned a stunning conclusion – though one not surprising to those familiar with legal contracting for cloud computing; namely that a majority of cloud providers do not believe data security is their responsibility - but the customer’s. 
  • In addition, the survey revealed that a “majority of cloud computing providers surveyed do not believe their organization views the security of their cloud services as a competitive advantage.
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  • Further, they do not consider cloud computing security as one of their most important responsibilities and do not believe their products or services substantially protect and secure the confidential or sensitive information of their customers.”
  • The study further reports that the majority of cloud providers surveyed “admit they do not have dedicated security personnel to oversee the security of cloud applications, infrastructure or platforms.”
  • One bit of somewhat good news the survey revealed is that “about one-third of the cloud providers in our study are considering such solutions [providing additional security] as a new source of revenue sometime in the next two years.”
  • Another of the report’s conclusion is that “the focus on cost and speed and not on security or data protection [in cloud offerings] creates a security hole.” This potential “security hole” is a prime reason we advise clients, in certain circumstances, to be prepared to walk away from cloud providers under consideration if adequate and legally defensible security measures cannot be adequately negotiated and contractually provided for.
  • The report also states that “cloud providers are least confident about the following security requirements: Identify and authenticate users before granting access Secure vendor relationships before sharing information assets Prevent or curtail external attacks Encrypt sensitive or confidential information assets whenever feasible Determine the root cause of cyber attacks
  • These are serious security concerns any way you slice it
  • The fundamental takeaway from the Ponemon study is that cloud security is very much a work in progress, and that any cloud initiative or plan for corporate cloud usage needs serious due diligence by representatives from business, IT and legal working in conjunction
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    Growing scrutiny of cloud computing security in the first half of this year is not surprising in light of the numerous data breaches, privacy issues and headline grabbing cloud outages that have occurred recently.
sandy ingram

Survey Finds Gap in Attitudes Between the Cloud "Haves" and "Have-Nots" - ReadWriteCloud - 0 views

  • This post is part of our ReadWriteCloud channel, which is dedicated to covering virtualization and cloud computing. The channel is sponsored by Intel and VMware.
  • London-based communications SaaS provider Mimecast has announced the results of its second annual Cloud Adoption Survey. The survey, conducted by independent research firm Loudhouse, assessed the attitudes of IT decision-makers in the U.S. and UK about cloud computing
  • The majority of organizations now use some cloud-based services. The report found 51% are now using at least one cloud-based application. Adoption rates for U.S. businesses are slightly ahead of the UK with 56% of respondents using at least one cloud-based application, compared to 50% in the UK
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  • Two thirds of businesses are considering adopting cloud computing. 66% of businesses say they are considering adopting cloud-based services in the future, with once again, U.S. businesses leaning more towards adoption than their UK peers (70% of U.S. businesses, and 50% of UK ones).
  • Email, security, and storage are the most popular cloud services. 62% of the organizations that use cloud computing are using a cloud-based email application. Email services are most popular with mid-size businesses (250-1000 employees) with 70% of organizations this size using the cloud for email. Smaller businesses (under 250 employees) are most likely to use the cloud for security services, and larger enterprises (over 1000 employees) most likely to opt for cloud storage services.
  • Existing cloud users are satisfied. Security is not considered to be an issue by existing cloud users: 57% say that moving data to the cloud has resulted in better security, with 58% saying it has given them better control of their data. 73% say it has reduced the cost of their IT infrastructure and 74% believe the cloud has alleviated the internal resource pressures.
  • Security fears are still a barrier. 62% of respondents believe that storing data on servers outside of the business is a significant security risk. Interestingly, this number was higher for users of cloud applications than it was for non-users (only 59% of non-users thought it was risky, while 67% of users did.)
  • Some think the benefits of the cloud may be overstated.54% of respondents said the potential benefits of the cloud are overstated by the IT industry, and 58% indicated they believed that replacing legacy IT solutions will almost always cost more than the benefits of new IT.
  • "The research shows that there is a clear divide within the IT industry on the issue of cloud computing," says Mimecast CEO and co-founder Peter Bauer. "While those organisations that have embraced cloud services are clearly reaping the rewards, there are still a number who are put off by the 'cloud myths' around data security and the cost of replacing legacy IT
  • It is now up to cloud vendors to educate businesses and end users to ensure that these concerns do not overshadow the huge potential cost, security and performance benefits that cloud computing can bring."
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    Existing cloud users are satisfied. Security is not considered to be an issue
sandy ingram

SurveyHigh storage costs, long backup windows, litigation risk and inefficient eDiscove... - 0 views

  • Enterprises are retaining far too much information. Seventy-five percent of backup storage consists of infinite retention or legal hold backup sets. Respondents also stated that 25 percent of the data they back up is not needed for business or should not be kept in a backup.
  • Enterprises are misusing backup, recovery and archiving practices. Seventy percent of enterprises use their backup software to implement legal holds and 25 percent preserve the entire backup set indefinitely. Respondents said 45 percent of backup storage comes from legal holds alone
  • Differences in how IT and legal respondents cited top issues for lack of an information retention plan Forty-one percent of IT administrators don’t see a need for a plan, 30 percent said no one is chartered with that responsibility, and 29 percent cited cost.
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  • Storage costs are skyrocketing as over retention has created an environment where it is now 1,500 times more expensive to review data than it is to store it,
  • Backup is not an archive, and it is not recommended to use backup for archiving and legal holds
  • Enterprises should also develop and enforce information retention policies (what can and cannot be deleted, and when) automatically. Automated, policy-driven deletion creates less risk than ad-hoc, manual deletion.
  • Paper policies that are not executed can be a litigation risk.
  • Enterprises should deploy data loss prevention technologies to measurably reduce their risk of data breaches, demonstrate regulatory compliance and safeguard their customers, brand and intellectual property.
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    MOUNTAIN VIEW, Calif. - August 4, 2010 - Symantec Corp. (Nasdaq: SYMC) today released the findings of its 2010 Information Management Health Check Survey, which highlights that a majority of enterprises are not following their own advice when it comes to information management. Eighty-seven percent of respondents believe in the value of a formal information retention plan, but only 46 percent actually have one. Survey results also found that too many enterprises save information indefinitely instead of implementing policies that allow them to confidently delete unimportant data or records, and therefore suffer from rampant storage growth, unsustainable backup windows, increased litigation risk and expensive and inefficient discovery processes.
sandy ingram

REPORT: show lack of executive oversight in data protection. - 0 views

  • survey also said that cybersecurity issues need to be seen as an enterprise risk management problem rather than an IT issue.
  • "Managing cyber risk is not just a technical challenge, but it is a managerial and strategic business challenge,"
  • senior management has not budgeted for key positions requiring expertise in cybersecurity or privacy areas. "No wonder the number of security breaches has doubled in the past year
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    survey also said that cybersecurity issues need to be seen as an enterprise risk management problem rather than an IT issue.
sandy ingram

Most Large Enterprises Already Active in Cloud Computing: Survey - Cloud Computing - Ne... - 0 views

  • The results indicate that "there are more cloud implementations within the enterprise than people were aware of," Jay Fry, vice president of marketing for the cloud computing division at CA Technologies, told eWEEK. The report indicates that IT administrators are starting to get some visibility on what the various groups within the organization are working on, he said. As more people begin to discuss the cloud within the enterprise, the visibility will continue to improve, said Fry.
  • In the past, there were "rogue deployments" that the company’s IT staff didn’t even know about, because the individual line of business was purchasing software-as-a-service offerings without involving IT.
  • Collaboration tools such as hosted e-mail, antivirus and spam filtering and Web conferencing software accounted for a bulk of cloud deployments, at 75 percent, according to the report
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  • The primary incentive for initially going to the cloud is to trim costs, he said. While that result was expected, the report found that IT staff considered other benefits, such as agility and adaptability as soon as six months after deployment, said Fry.
  • Many large organizations are already active in cloud computing in some form and are planning more deployments, according to a CA Technologies study.
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    "More than 80 percent of surveyed enterprises and 92 percent of the largest enterprises, have at least one cloud service, the report found. Additionally, more than half, or 52 percent, of organizations using the cloud claimed to have more than six cloud services."
sandy ingram

Study Finds U.S. Small Businesses Lack Cybersecurity Awareness and Policies | Reuters - 0 views

  • Small business owners' cybersecurity policies and actions are not adequate enough to ensure the safety of their employees, intellectual property and customer data, according to the 2009 National Small Business Cybersecurity Study. The study, co-sponsored by the National Cyber Security Alliance (NCSA) and Symantec [Nasdaq: SYMC], as part of this year's National Cyber Security Awareness Month, surveyed nearly 1,500 small business owners across the United States about their cybersecurity awareness policies and practices.
  • The survey shows discrepancies between needs and actions regarding security policies and employee education on security best practices.
  • The study found that while more than 9 in 10 small businesses said they believe they are safe from malware and viruses based on the security practices they have in place, only 53 percent of firms check their computers on a weekly basis to ensure that anti-virus, anti-spyware, firewalls and operating systems are up-to-date and 11 percent never check them.
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  • "The 20 million small businesses in the U.S. are a critical part of the nation's economy. While small business owners may understandably be focused on growing their business and the bottom line, it is imperative to understand that a cybersecurity incident can be disruptive and expensive,"
  • small businesses seem out of sync with some Internet security risks. 75 percent of small businesses said that they use the Internet to communicate with customers yet only 6 percent fear the loss of customer data and only 42 percent believe that their customers are concerned about the IT security of their business.
  • Laptops, PDAs and wireless networks are great conveniences to businesses, yet they carry with them an added responsibility to ensure the data is secure. Today, more than 66 percent of employees take computers or PDAs containing sensitive information off-site.
  • Wireless networks are gateways for hackers and cyber criminals and must be secured by complex passwords
  • "Security threats are becoming more complex and employees of small businesses are increasingly the target of attacks that expose their organizations to data loss,"
  • "Security awareness and education, combined with a comprehensive security solution, can empower small businesses and their employees to protect themselves and their information."
  • The demographic makeup of the small business polled
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    "Small business owners' cybersecurity policies and actions are not adequate enough to ensure the safety of their employees, intellectual property and customer data, according to the 2009 National Small Business Cybersecurity Study. The study, co-sponsored by the National Cyber Security Alliance (NCSA) and Symantec [Nasdaq: SYMC], as part of this year's National Cyber Security Awareness Month, surveyed nearly 1,500 small business owners across the United States about their cybersecurity awareness policies and practices."
sandy ingram

Deloitte | E-Discovery: Mitigating Risk Through Better Communication | Deloitte Discove... - 0 views

  • The Deloitte Forensic Center’s analysis of the E-Discovery: Mitigating Risk Through Better Communication survey results1 identified three interrelated challenges. They are: Communication Awareness Readiness
  • At the heart of e-discovery are two corporate functions that historically have had little in common, and tend to speak their own technical languages: legal and IT
  • Neither can be truly effective in the e-discovery process without a clear understanding of the other, yet communication and coordination between these two departments appears to be unclear to many survey participants: More than one-third of respondents (36 percent) don’t know the answer to how their legal and IT departments communicate.
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  • Deficient communication and a lack of coordination between departments can lead to an organizational lack of awareness about e-discovery.
  • Awareness Issues
  • Communication Hurdles
  • According to the survey, more than one-third of respondents, including C-suite, (36 percent) don’t know how committed their company’s C-suite is to finding a solution for e-discovery issues.
  • Only 20 percent of respondents think legal resources are appropriately allocated to e-discovery
  • Many companies also lack the resources and sophistication to manage e-discovery effectively.
  • For respondents that say their firms are challenged by e-discovery, the most common complaints are: a lack of funds to address e-discovery requirements (25 percent
  • Of those respondents with an opinion, 62 percent say their company is concerned about e-discovery challenges posed by social media web sites and blogs
  • Given the extensive use today of social media such as Facebook and Twitter during employees’ work and personal time, this suggests an e-discovery challenge that may require attention by many companies.
  • Three Years from Now
  • E-discovery is anticipated to become harder: 44 percent of respondents expect e-discovery challenges, along with government rules and regulations, to increase over the coming three years
  • Mismanaged e-discovery has led to many tales of litigation woe, involving sanctions, lost cases and fines. Improper ESI management, as the Sedona Conference points out, is simply bad business.
  • Five Areas of Potential Improvement
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    "As the volume of electronically stored information (ESI) rises rapidly, improving the understanding among the C-suite, legal and IT functions is key to controlling costs and better managing e-discovery risks."
sandy ingram

RESEARCH SHOWS MORE THAN HALF OF SMBs OPERATE WITHOUT STAFF IT SECURITY GUIDELINES | Ec... - 0 views

  • AVG's research shows that: * 83% agree that having the right level of IT security protection is critical to their business * 77% say that a security threat could have a significant negative impact on their business * 55% feel they can make IT security decisions without 3rd party influence * However, only 48% have a clear IT security policy in place for their staff, leaving most at the mercy of what employees decide to download or access online * As a result, perhaps not surprisingly, 1 in 4 have experienced a security breach * Most worryingly, 1 in 7 have no security software or systems in place at all AVG also asked small businesses whether they expect to see growth in the next five years - 61% of UK and 74% of US small businesses say that they do.
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    "Research released today by Internet Security company AVG (http://www.avg.com) shows that although most small businesses understand the need to protect their IT systems, fewer are willing to put it into practice. Out of 2000 SMBs surveyed in the US and UK for the "SMB Landscape Report", more than half (52%) have no IT security guidelines for their staff, while 1 in 7 have no Internet security software or solutions in place at all. "
sandy ingram

CFO.COM: How to Talk about Layoffs - nearly half of the 2K finance executives surveyed ... - 0 views

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    more than 2,000 businesses laying off at least 50 workers in November alone - and nearly half of all finance executives surveyed by CFO say their companies will reduce their workforces this year.
sandy ingram

THE INSIDE THREAT: Financial firms focus on internal threats, employee errors - 0 views

  • Mark Steinhoff, head of Deloitte's financial services security and privacy practices, said an organization's biggest mistake would be to let its guard down
  • "The number of breaches that are occurring are really at the hands of insiders and organizations are understanding that there is a real threat of malicious attacks and exposure of personal information by insiders," Steinhoff said.
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      The failing economy may be driving the increased concern over insider threats
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      "We are seeing the layoffs and other forms of downsizing. Frankly with limited budget and less than satisfied employees, it really raises the parameter on that threat."
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      Human error is the leading cause of information systems failure, and is likely to be the main cause of security attacks in the near future, according to 86% of those surveyed
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    Banks and financial firms are placing more emphasis on internal threats to cut the flow of data leakage as a result of employee mistakes or workers disgruntled with layoffs and downsizing during the economic crisis, according to a recent survey.
sandy ingram

Small Companies Look to #Cloud for Savings in 2011 - WSJ.com - 0 views

  • As of April 2010, only about 7% of small-business owners were using cloud services, but that number is expected to grow to more than 10% by mid-2011, according to a survey by technology-research firm IDC.
  • Half of small firms that use "the cloud" say it has improved their bottom line, according to a survey this fall by Microsoft Corp., which provides cloud services.
  • A number of surveys show that some business owners are hesitant to try cloud computing because they don't want to stray from familiar systems or invest in new ones. Some owners that have made the switch, however, say it has been a boon to their cash-strapped firms.
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  • Garey Willbanks, owner of Boiler Management Ltd. in Houston, says he pays about $600 a month to store information in the cloud. He estimates that is less than a tenth of what he would pay if he hired technology personnel to run an in-house storage server.
  • In June, Michael Tracy, a private law practitioner in Irvine, Calif., decided to try Nextpoint, a cloud-based program for attorneys. He had previously spent $10,000 to $12,000 a year licensing software that would organize materials before a trial. The problem was he needed it just a few times a year. By contrast, Mr. Tracy pays for Nextpoint only when he uses it, and he anticipates spending just $4,000 to $6,000 a year on the service.
  • "If you already have tight control over your company, your expenses may drop 10% to 20%,"
  • Despite the savings, there are risks. Security breaches, for instance, can happen if the cloud provider isn't reliable. "If they make money directly from you, then they will want to secure [your information]," Mr. Enderle says. "If they make it through advertising," they may be more likely to sell the information to advertisers, he says.
  • Others fear that they might lose their information, or have to spend a lot of time transferring data, if they want out.
  • "So make sure it's the right provider and that you're ready to be in it for the long haul."
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    "A growing number of small-business owners are expected to try cloud computing services next year, hoping to trim costs and stay up and running if disaster strikes. Cloud computing refers to any service that operates over an Internet connection, allowing immediate access from any computer or mobile device with Web access. Business owners can access software or store information-such as customer contacts, accounting data and presentations-and leave the technical maintenance to the cloud provider. "
sandy ingram

Study Finds Companies Struggle to Measure Effectiveness of the Compliance Function - 0 views

  • Senior compliance officers at more than 100 leading U.S. companies responded to 28 questions in four key areas critical for the compliance function: leadership, reporting relationships and structure; compliance function scope, focus and risk; metrics to gauge program effectiveness; and budget, staffing and resources. A major finding of the study: One of the biggest obstacles facing Chief Compliance Officers (CCOs) is measuring the effectiveness of their compliance functions - almost 40 percent of the companies surveyed said they make no attempt to measure the effectiveness of their compliance program.
  • “An effective compliance program is the cornerstone of cooperation credit allowed under the U.S. Sentencing Guidelines and stakeholders are demanding much higher transparency in how compliance risk is effectively managed,” said Miles Everson, PwC principal and global and U.S. risk and compliance leader.
  • “Without a clear measure of the compliance department’s effectiveness, much else is in jeopardy. Lacking this,
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  • how does the board know that compliance risks are effectively addressed?  Let alone that the compliance function itself is effective? 
  • According to the study, a critical element to the compliance department’s success is the perceived stature of the CCO and his or her influence among other top leadership.
  • “It’s essential that the compliance function have visibility and direct access both to senior executives in the organization and to the board or one of its committees,” added Everson. “This access helps keep risk and compliance issues on the company’s agenda and lets key ethics and compliance issues surface in a timely fashion.”
  • The State of Compliance survey also provided another interesting glimpse into corporate compliance when it asked about reporting structures. Regulators have long preferred that a company’s top compliance officer report directly to the board, and just last year the U.S. Sentencing Guidelines were revised to state more clearly that CCOs should not be, nor report to, the general counsel.
  • PwC and Compliance Week also found that, over the next 18 months, CCOs anticipate significant challenges when it comes to risk - and that when issues arise, they expect the consequences to be severe.
  • When asked about several high-level categories of risk, such as compliance risk, security risk, reputational risk and others, 48 percent believed the likelihood of a compliance failure was high or very high. 
  • What's more, 65 percent of respondents felt the impact of a compliance risk event, should it occur, would be high or very high. 
  • Effective compliance programs need input and guidance from many different voices in the company (IT, internal audit, finance, security). It is in the company’s benefit for the compliance department to borrow resources from those teams to achieve its goals, rather than build its own expertise in each department.
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    "The results of The State of Compliance: 2011, an inaugural study conducted by PwC US and Compliance Week, will be released today at the Compliance Week 2011 6th Annual Conference for corporate financial, legal, risk, audit and compliance officers in Washington, D.C. The report - the first of its kind - identifies a wide range of compliance issues confronting organizations today and will stay current as new companies participate, accurately reflecting the changing compliance landscape."
sandy ingram

Ponemon #BREACH SURVEY: 56% suffer from financial identity theft and cost Hospitals $6 ... - 0 views

  • "Our research shows that the healthcare industry is struggling to protect sensitive medical information, putting patients at risk of medical identity fraud and costing hospitals and other healthcare services companies millions in annual breach-related costs," said Dr. Larry Ponemon, chairman and founder, Ponemon Institute.  "At this point one would hope to see that healthcare organizations have improved information security practices and come into compliance with HITECH, now that it's been more than one year since it was enacted.  Instead we found enormous vulnerabilities.  The protection of patient data should be at the forefront of their efforts."
  • ey findings of the research: Data breaches are costing the healthcare system billions.  The total economic burden created by data breaches on the healthcare industry is nearly $6 billion annually.  The impact of a data breach over a two-year period is approximately $2 million per organization and the lifetime value of a lost patient is $107,580.  The average organization had 2.4 data breach incidents over the past two years.  Major factors causing data breaches are unintentional employee action, lost or stolen computing devices and third-party error.Healthcare organizations are not protecting patient data.  Organizations have little or no confidence in their ability to appropriately secure patient records (58 percent).  Healthcare organizations have inadequate resources (71 percent) and insufficient policies and procedures in place (69 percent) to prevent and quickly detect patient data loss.Protecting patient data is not a priority.  Seventy percent of hospitals stated that protecting patient data is not a top priority.  Patient billing (35 percent) and medical records (26 percent) are the most susceptible to data loss or theft.  A majority of organizations have less than two staff dedicated to data protection management (67 percent).HITECH has exposed the healthcare industry's lax data protection practices rather than improved the safety of patient records.  The majority (71 percent) of respondents do not believe the HITECH Act regulations have significantly changed the management practices of patient records.  The findings indicate that there is a significant number of data breaches that go undetected, and therefore unreported.
  • "We talk with healthcare compliance people dealing with data breach risks every day and they just can't get their arms around the problem of data exposure," said Rick Kam, president and co-founder of ID Experts.  "Unfortunately, in healthcare organizations, patient revenue trumps risk management."
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    Hospitals Are Not Protecting Patient Data; Healthcare Industry Lagging Behind HITECH Standards TRAVERSE CITY, Mich. and PORTLAND, Ore., Nov. 9, 2010 /PRNewswire/ -- The latest benchmark study by Ponemon Institute, sponsored by ID Experts®, finds that data breaches of patient information cost healthcare organizations nearly $6 billion annually, and that many breaches go undetected.  The research indicates that protecting patient data is a low priority for hospitals and that organizations have little confidence in their ability to secure patient records, putting individuals at great risk for medical identity theft, financial theft and embarrassment of exposure of private information.
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