Cyber Crime – A Big Deal or Only After it Happens to Your Organization?

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Cyber Crime – A Big Deal or Only After it Happens to Your Organization?

The Ponemon Institute has released their annual 2012 Cost of Cyber Crime Study as usual with interesting results. According to the report, “Cyber attacks generally refer to criminal activity conducted via the Internet. These attacks can include stealing an organization’s intellectual property, confiscating online bank accounts, creating and distributing viruses on other computers, posting confidential business information on the Internet and disrupting a country’s critical national infrastructure.” Quite a frightening list.

The cost for the 56 organizations in the study was $8.9 million per year, with a range of $1.4 million to $46 million, a 6 percent increase over 2011. The most costly cyber crimes are those caused by denial of service, malicious insiders and web-based attacks. The areas that we as a company are particularly interested in are malicious insider, information theft detection, and business disruption costs. Malicious insiders account for 10 percent of the costs associated with a cyber crime and represent 38 percent of the types of attacks. An interesting finding was the significant cost increase for the category termed malicious insiders, which rose by more than $60,000. In the context of the study, malicious insiders are defined as employees, temporary employees, contractors and, possibly business partners.

I’m not sure if ‘malicious insiders’ is the right term. I would like to suggest that humans are prone to error and due to time constraints, lack of effort, or disinterest sensitive information just doesn’t get processed correctly. If you also consider that content is flowing into the organization from multiple channels and origination points, often without human intervention, can also lead to an unidentified breach. Our software, which complements security applications, can detect and identify potential confidential exposures without user intervention, in –real time from diverse sources. Organizational descriptors and vocabulary can be highly customized and managed easily. Workflows can then route the potential security exposure to a secure repository for disposition.

I am interested in knowing how your organization protects the confidential ‘needles in haystacks’ that could potentially lead to an internal or external security exposure. Or is this of minimal concern?

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