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I just got a crack at reading Deloitte’s new Center for Security and Privacy Solutions' report titled Cyber Crime: A Clear and Present Danger. It is a quick 16 page read and worth it for any entrepreneur or emerging business innovator, CEO or COO.
We are building business in a digital world. Knowing the neighborhood, so to speak, is important. Along with all the good things things about the neighborhood -- effeciency, effectiveness, new markets, new products and services, collaboration -- comes new forms of crime, new scams, new ways that our business dreams can be damaged or destroyed.My business partner at Jacadis, Simon Herring, often speaks of our efforts as cyber security and risk professionals at protecting 10-foot walls againts 11-foot ladders. The reports key finding "Threats posed to organizations by cyber crimes have increased faster than potential victims—or cyber security professionals—can cope with them, placing targeted organizations at significant risk.
In interpreting the survey responses Deloitte reports that "cyber crime constitutes a significantly more common and larger threat than respondents recognize."Bluntly cyber criminals are innovating in the digital marketplace just like the rest of us; only their innovation is outpacing what are traditionally considered best practices.
The report in Deloitte's words "is directed toward senior leaders including CIOs, CSOs, CROs, operational risk managers, government agency budgeting and procurement professionals, and other executives and professionals with decision-making roles in the security of their organization’s IT environment and of the assets within that environment.
It is a quick 16 page read and worth it for any entrepreneur or emerging business innovator, CEO or COO. It is worth reading for those in the IT audit profession as well.
Some trends pointed out in the report:
- Cyber attacks and security breaches are increasing in frequency and sophistication, with discovery usually occurring only after the fact, if at all.
- Cyber criminals are targeting organizations and individuals with malware and anonymization techniques that can evade current security controls.
- Current perimeter-intrusion detection, signature-based malware, and anti-virus solutions are providing little defense and are rapidly becoming obsolete—for instance, cyber criminals now use encryption technology to avoid detection.
- Cyber criminals are leveraging innovation at a pace which many target organizations and security vendors cannot possibly match.
- Effective deterrents to cyber crime are not known, available, or accessible to many practitioners, many of whom underestimate the scope and severity of the problem.
- There is a likely nexus between cyber crime and a variety of other threats including terrorism, industrial espionage, and foreign intelligence services.
Do you lock your digital doors?
Does your business design, operation, IT infrastructure invite criminals?
The report can be found at: http://www.cio.com/documents/whitepapers/CyberCrime.pdf.
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