Internal breaches on the rise
SECURITY| Oct. 12, 2010, 2:58 p.m.
There has been an unprecedented surge in the number of information security breaches coming from inside companies, says J2 Software.
J2 Software managing director John Mc Loughlin says events across the globe over the past 18 months have forever changed corporate consciousness in the security landscape. Companies must urgently address the situation to protect their information assets and the privacy of their electronic identity, he says.
Mc Loughlin says as the complexity of data and ease of access keeps increasing, now more than ever, companies have a golden opportunity to push information security to the top of their agenda.
“ It is more important than ever to ensure that information is protected and risk is minimised, especially considering the ever-changing business environment. Information drives businesses and has become the lifeblood of modern organisations, without it they die.”
According to a number of recent studies, the ‘ Insider Threat’ has loomed to become the most feared information security risk in most organisations today. Regardless of the technologies and software solutions that an organisation may deploy to mitigate the risk of information security breaches, the critical factor is always people.
He says the only solution is to build information security into the DNA of the organisation and its employees.
Building information security into the DNA of any organisation is the key to achieving compliance and mitigating risk, but it also presents the biggest challenge, especially for large and complex organizations, says Mc Loughlin.
There must be a balance between business risk, business operations and business competitiveness. This also requires the organisation to use tools which are proactive as opposed to reactive.
The importance of the IT Security Policy document and how it is communicated and enforced is a crucial issue. Most of these documents are too bulky and unmanageable, making them likely to remain unknown and unnoticed. Keeping it ‘ live’ and relevant, while communicating the relevance throughout the organisation is the key to achieving the objectives of the document. This proves to be a difficult task, especially when even the authors of the policies can sometimes forget what it contains.
He notes there are examples where risk has been communicated, but has been purposely ignored when it is financially advantageous to do so. In these cases, the audit department ‘ red flag’ certain suspicious activity to management but is somehow ignored. Reluctance to escalate a known irregularity is highly likely if the irregularity is generating large sums of money.
‘ Compliance Fatigue’ can result from the constant updating and revision of regulatory compliance requirements.
All of these factors must be taken into account when considering the implementation of a long term Governance, Risk and Compliance strategy.
Driving down the cost of compliance is not only the key to competitive advantage, but also to compliance being taken seriously and becoming part of a cost effective executive risk management strategy, he says.
“ If compliance is too time consuming and complex it will be ignored or short cuts will be taken.”
MORE SECURITY NEWS
Online bank accounts targeted over 5m timesDuring the past quarter, there were 5.68 million notifications about attempted malware infections to steal money from users via online access to bank accounts, says Kaspersky. Read More
Nigeria’s electronic fraud losses hit N4bWith the introduction of the cashless economy scheme of the Central Bank of Nigeria (CBN) designed to discourage use of cash, electronic crooks seem to have become more daring, fleecing banks and customers of over N4 billion. Read More
The human firewall – turning security’s weakest link into IT’s strongest allyWhen it comes to cyber security, people are often the weakest link. A comprehensive approach to ‘people security’ is essential in closing the gap on this particular vulnerability, says Galix. Read More
FNB Botswana sensitizes customers on cyber crimeFNB Botswana has advised customers to be vigilant of scammers when purchasing via money transfer and online platforms. Read More
Worse than it seems: DDoS attacks coincide with other threatsA survey undertaken by Kaspersky Lab and B2B International has demonstrated that, in most cases, a DDoS attack is only the tip of the attack iceberg. Read More
Survey: 98 days to identify advanced cyber threatsA Ponemon Institute survey has found the average time span for financial services to identify an attack inside the network is 98 days. Read More
Corporations, others to up security spend by 25%The app economy demands a new approach to security, says a recent study. Read More
P@$$wORD_1: How secure is your password?With organisations being blamed for loopholes that give hackers access to information, companies are increasingly looking at how to better protect their users’ passwords. Read More
Botswana urged to rethink cyber security threatsThe founder of the African Cyber Risk Institute (ACRI) says now is the time for Botswana to create a national cyber risk agenda. Read More
FEATURED STORYeCommerce in Africa urged to take advantage of mobile
The Executive Chairman of Alltel has urged operators of eCommerce in Ghana and Africa as a whole to take advantage of the current trend for Africans to trade online via their mobile handsets.
BEST READ NEWS
IN DEPTHNigeria needs $25b investment in broadband, says Wood
Telecoms executive Adrian Wood speaks to Kokumo Goodie about investment potential in Nigeria.