gAtO sAy – as we seen with just script kiddies (anonymous and such) causing serious data breach in corporate world, the c-suite is finally waking up to the fact that lack of cyber security can ruin your company instantly. Look at the current Stratfor hack and release of customer credit cards and let’s not forget the donations that the hackers made.
If this was a criminal organization do you know how many billions of dollars they could of charged their customers without them knowing anything. Stratfor found out about the hack from the Twitter-sphere. “If data loss continues on this current trend, it will cost the U.S economy alone $290 billion by 2018” said cyber security expert Kevin West announced in a recent Forbes guest column.
This equates to 1.6 percent of GDP. mUcHo $$$
That’s only the hard side of the coin if you look at the IP (intellectual property) that is being lost by U.S organization this alone will make every company less valuable every year until the diminishing returns forces the collapse of the US economy or pulls us out of the world markets altogether.
Compliance will make our company safe from hackers -wRoNg
Business is business and unless your saving money or a revenue stream, management will vote down doing the right thing, even legislative doesn’t help, look at HIPPA with over 200 security points if you do a risk assessment you can get away with doing the minimum and still be regulatory compliant.
However, a number of organizations are learning that data security and data compliance may not be complementary, but competing priorities. Simply assuming that achieving data compliance equates to optimal cyber security could be a misguided philosophy and leave you open for an attack.
According to PCWorld, complex and conflicting compliance mandates may be jeopardizing overall data protection efforts. Several of the most notable victims of data breaches in 2011 actually had consistently successful audit records. As a result, the new era of data protection may call for distinct compliance and cyber security strategies -gAtO oUt