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The WiKID Blog

Viewing posts from January, 2009

are-companies-under-reporting-breaches

Posted by: admin 16 years, 3 months ago

A while back, I read in Brian Krebs' blog that "colleges and universities were more than twice as likely to report a breach as any other entity, followed by government agencies (17 percent) and businesses (15 percent)." (Emphasis mine.). A well-worded sentence that got me to wondering if significant under-reporting occuring.

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another-plug-for-strong-authentication

Posted by: admin 16 years, 3 months ago
A great analogy: strong authentication is like Penicillin for your network security

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how-much-to-spend-on-information-security-no-more

Posted by: admin 16 years, 3 months ago

I have just finished reading Gordon &Loeb's Managing Cybersecurity Resources: A Cost-Benefit Analysis and I highly recommend it for information security professionals seeking to learn more about the economics of information security.

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banking-group-sues-tjx

Posted by: admin 16 years, 3 months ago

In an interesting development in the economics of information security and data breaches, a group of banks is suing TJX for "negligent misrepresentation". According to Massachusetts Bankers Association CEO Daniel Forte:

"Banks all across the nation re-issued debit cards as a result of the TJX data breach. Preliminary estimates of the costs vary from institution to institution, up to $25 dollars per card," MBA officials said in a statement. "This alone would run into many millions of dollars for banks throughout the country. Moreover, when fraud occurs, banks generally cover the entire fraud, replacing money in customer accounts to protect their customers."
The banks, which once owned Visa, the creator of the PCI data security standards, now recognize that there costs are an externality in that system. The tort system is a pretty good system for dealing with externalities. Unfortunately for those who like to have real data on these matters, if the case is settled out of court, we probably won't know how much it actually costs TJX. I continue to believe it will not affect their brand or sales , but it will hurt their stock price as would any expenses that do not generate revenue.

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schneier-questions-need-for-himself

Posted by: admin 16 years, 3 months ago

I read with delight this quote from omnipresent security pundit Bruce Schneier questioning the reasons for the existance of the security industry:

"We shouldn't have to come and find a company to secure our e-mail. E-mail should already be secure. We shouldn't have to buy from somebody to secure our network or servers. Our networks and servers should already be secure."

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