Cyber Safety: Worldwide Exposure and Growing Implication’s

Corporations are waging a campaign on multiple theaters as they look to ward off new, rising breaches in the cyber security and abide by growing worldwide rules.

Virus, Spy ware and Ad ware are constantly evolving and are being implemented by disgruntled employees, fearing loss of employment due to the current economy, groups and individual malcontents, who are well versed in the use of evolving illicit technology, to hack or other break into companies networks.

Complying with new worldwide regulations, is of critical interest  for most companies both global and local, as they try to maneuver through the myriad of newly devised international rules and regulations  relating to Internet security 

New rules and regulations going beyond the borders of the USA and extending to their overseas operations are causing companies of all shapes and sizes to take extraordinary measures to insure their organizations are complying and are well protected.

Internet Criminal Activity an Increasing Threat

Criminal activity on the WWW is here to stay. The Internet is intertwining everything and everyone. Desktops, smart phones, laptops, handheld devices are dependent on various types of computer networks.  The circumstances

for devious Internet crime is an ever-increasing threat. More personal information like credit card numbers, social security numbers, drivers license numbers are being stored on company computers and networks. This information is lucrative information for Internet interlopers, who hack your system and download this personal information of customers for resale to criminals or for personal use to obtain tangible goods and credit lines. 

The number of breaches in networks is increasing on a daily basis, the numbers are frightening. The sources keeping records on identity theft are showing an alarming increase in this criminal activity. Reliable sources state that this activity is up 47% over the prior year. Reports of Internet crime have jumped a third in 2008 and show no signs of it decreasing. Estimates over $ 265 million has been lost to this heinous  activity up considerably from 2007. Crimes like on line fraud, computer network invasion, identity theft, spying for research and economic information is rising constantly.

These statistics are US Based, however cyber crime happens all over our world. It can be perpetrated from anywhere there is an Internet provider and persons or groups have gleaned the necessary criminal skills to carry out these heinous acts. Careless acts like forgetting or leaving a laptop, flash drive , portable hard drive or hand held device can give a cyber criminal the opportunity to obtain valuable personal information contained on private of corporate databases and disseminate this information for ill-gotten gains.

Developing Internet Dangers

Theft by company insiders is a growing concern. These people have made an increase in data base piracy of 16% over 2008. Company insiders include present and past employees that have a working knowledge of your networks security and the knowledge to breach the security systems that you have in place without you finding out until it's too late.

Outside of the company is the criminal who constantly attempts to find ways to circumvent your security measures and defenses. They use  tactics like spear phishing which is phishing attack that is directly aimed at your company . They take data collected from your websites, face book or other  types of blog spots or social networking pages and send a legitimate looking email to people within your company or consultants of your company that appear to be authentic and attempt to trick them into giving critical information or clicking a link that can give them access to your network data.

Virus & Spy Ware is another bone of contention that can infect or cause damage to a company's network  without  the company 's knowledge.. Destructive software action has increased at record-breaking numbers in the last year. mostly seeking proprietary info of the computers users according to computer security  industry  officials

Conforming with Regulations

Keeping data stored on networks ,workstations, laptops, portable data storage systems are only one of the trails facing your company. Keeping current with the numerous new rules and regulations germane to the security of data on your workstations, networks, laptops and portable data storage systems is something else.

A leading big four accounting and consulting firm with their recent Global Security Survey of  Pecuniary institutions noted correspondents  recognized  compiling with  new regulations as a primary  precedence, emulating their attempt to take care of the many legal requirements and laws, pertaining to breaks in security to websites and stored data , quickly increase, often commanding, monetary penalties, civil tort action and negative press . That is why it is of primary concern to companies who have participated in the survey.

Companies doing business in the United States must handle all the changing rules and notifications. During 2008 alone 44 states , and the republic of Puerto Rico and the U.S. Virgin Islands, have brought about rules and standards needing declaration of breaches of their data that contains personal and financial information to all customers that could be involved. Costs involved  with notification can be a real financial burden upon these companies  who have suffered such breaches in security. Cost of  $ 200.00 or more per record is not uncommon. according to many recent  Data Breach Survey's.

In the U.S particular types of companies are required to comply with rules and regulations such as  the Gramm-Leach-Bliley Act and HIPPA (Health Insurance Portability and Accountably Act. These acts require that companies protect such personal information.

There is a growing worldwide movement for enacting inclusive policies of data and privacy cyber protection. At least 40 countries have or are  enacting these types of standardized laws.

The European Union Data Protection Directive is in place for companies doing business in the European Union. The Cyber Security Act of 2009 has been introduced in the US Congress.  This Bill would make the National Institute of Standards and Technology to  develop calculable and auditable Internet security  principle that would be enforceable for  business and government alike. It would create an Internet Security Autocrat would be able to close down computer networks if a large scale  Internet Security  attack were to occur.

Mitigating Risk

If Companies operating in the US and rest of the world  make their networks and data more secure, it  will make it more difficult for Internet bandits to compromise their customers personal data.

 By taking the proper steps to  lessen their exposure to Internet Breach, local and worldwide companies will place themselves in a position that will make them more attractive for obtaining terms and conditions of insurance coverage that  are more favorable to acquiring coverage for 1st party  and 3rd party losses coming from misappropriation of cash or other assets in the event of a break in network defense.  Crisis Management, defense costs, notification costs can be considerably defrayed with the purchase of the proper Internet Liability Insurance .

Companies face considerable demands in securing their networks in the U.S and the rest of the world. Good security  and complying with Internet Security worldwide may mean fewer losses, civil tort actions, fines and a greater number of Insurance Carriers that would offer favorable terms and conditions of coverage.