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sandy ingram

Few businesses are likely to be insured against the result of cyber attacks - Security ... - 0 views

www.securitypark.co.uk/security_article263278.html

Best Practice Privacy Security Insurance Employee Fraud unemployment resession

shared by sandy ingram on 21 Jul 09 - Cached
  • Businesses are advised to thoroughly review risk management procedures and insurance programmes to ensure they have adequate and relevant cover in place: “The responsibility to get the house in order should lie with an organisation’s Managing Director or Finance Director, and not the IT department alone,” says Simon. “IT defences whilst vital only react to known problems and are not guaranteed to be 100 percent secure. Protection for the whole business and its sustainability is without doubt the safest option.”
  • “The economic downturn has resulted in people of all levels and responsibilities losing their jobs, and those with a detailed knowledge of their former employers’ IT and operating systems may well present a real potential threat, and turn to extortion as a way of taking revenge on their former employer, and of making some money at the same time.
  • According to The Wilson Organisation, insurers and underwriters are predicting a rise in white collar extortion as the recession continues to bite and unemployment figures increase. Worryingly many businesses do not have insurance cover for data or business loss.
  • sandy ingram on 21 Jul 09
     
    According to The Wilson Organisation, insurers and underwriters are predicting a rise in white collar extortion as the recession continues to bite and unemployment figures increase. Worryingly many businesses do not have insurance cover for data or business loss. "According to a DTI Information Security Breaches Survey, a third of UK businesses think general business insurance provides full cover for damage to the business arising from data loss," comments Wilsons' Simon Hoare, "but the reality is quite different, with very few businesses likely to be insured against the result of cyber attacks on its most crucial management and business tool - corporate and customer information, most of which is today held on corporate IT systems. "For public company directors, this is in fact in breach of their duties under the Turnbull Report, which requires them to identify, manage and take an informed opinion on the transfer of risks for the business."
sandy ingram

Layoffs could lead to theft of interllectual property, placement of code - 0 views

www.linkedin.com/...366179-6510159

extortion layoffs employee workplace

shared by sandy ingram on 17 Nov 08 - No Cached
  • Since we are witnessing one of the most greatest surges in layoffs, how has your information security processes been coping with the increase?
  • I hear that many employees, in anticipation of a layoff, are stealing intellectual property. Thus, some damage to the company may be done prior to the lay off taking place.
  • have direct experience of employees who planted code that would disable key functions in the corporate IT system
  • ...9 more annotations...
  • I have met others who have bought their way into competitors using confidential information.
  • To be completely brutal and honest, if you are in a position to be worried about these things then your organisation has not taken its' security (in the broadest terms) seriously.
  • Security considerations are starting to move higher up the value chain away from its roots of network centricity towards applications and business concerns.
  • I have been monitoring the IT security industry and what I have noticed is not only the number of layoffs but also that there is so few high level IT Security jobs been advertised. Too many organisations see IT Security as an expense, and they have problem seeing the ROI form IT Security project.
  • how vulnerable is the Global economy to the next big attack.
  • corporations rapidly lose the ability to stop serious security breaches within the company as many in this forum have stated many examples.
  • I have seen many people go to extremes and sell this inside information, corporate espionage to name one example, in order to survive.
  • To understand the seriousness of this economic turmoil affecting corporation globally, a Director of Information Security from one of the largest and most admired global corporations was let go in a downsizing restructuring.
  • Understand that every company large and small is going through profound economic issues trying to do more with less staff.
  • sandy ingram on 17 Nov 08
     
    In one case, it was used for extortion, i.e. to demand a better severance package. The other used it for revenge.
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