Why Your Business Requires Security

The States and Federal Identity Theft and Privacy Protection Laws now require businesses, agencies and organizations of all sizes to protect all personal information they store, and report to all their customers whenever a breach occurs. The financial ramifications after having a data breach can be very substantial to both present and future business. In some many cases a company never does recover from a breach and is forced to close down. Currently, the average cost on a company is $3.7M per incident.
Dec
08

Patco Needed To Take Responsibility For Their Own Security

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In the ComputerWorld article “Judge rules against trial in lawsuit by victim of $588K cyber heist” by Jaikumar Vijayan about the lawsuit between Patco and Ocean Bank there were no winners here. There were mistakes done on both sides and lack of responsibility. Since I was not in the courtroom and didn’t follow the trial I can’t say if the judge’s ruling was the correct one but here is why both plaintiff and defense lost. Read More→

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Dec
05

SecurID Tokens Are Being Hacked

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Are Your Secure ID Tokens Really Secure From Being Hacked?

One of the leading supplier of one time passwords (OTP) tokens is RSA (an EMC company) has recently been in the news because Lockheed Martin and L-3 Communications had their SecurID tokens being hacked. RSA said that attackers had accessed code related to its SecurID two-factor authentication technology. Read More→

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Dec
01

One Cyber Attack Can Affect All Your Other Accounts

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Sony, Amazon, Google, Lockheed Martin, Michaels, and many other companies reported cyber attacks within the last month. However, these attacks may have even far reaching security threats to other companies and individual accounts than you might realize. Majority of internet users have the exact same User Name and Password for multiple accounts. So if you fall into this category, all your other accounts have been made vulnerable. Read More→

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Nov
30

Facebook Apologizes… Again!

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Yet another Facebook apology for privacy violations by Dovell Bonnett - Access SmartFacebook can apologize all they want and the government can fine them for privacy violations, but once the information is out on the network it is too late. The best protection one has is to limit the personal information you put in any online social media profiles.

One of my biggest concern is that all these young teens who are posting incredibly personal information now will discover that they have no privacy in 10 years because they gave it all away on Facebook.

If the Occupy Wall Street activitists are worried about how big corporations are manipulating the 99%, Facebook’s co-founder and CEO Mark Zuckerberg discusses how Facebook also is trying to make money by mining the personal information that it collects to help customize ads and aim the messages at people most likely to buy the products and services being promoted. This is the information it’s users put in their profiles.

I have written blogs on how Hackers can break user’s passwords by looking through their profiles, but now you have to also worry about privacy invasion by the very site that discusses the power of global communications.

To read more about how Facebook settled their deceptive behavior click here to read the article and please be sure to leave your thoughts on this newest foray by FB into your personal privacy.

Categories : Social Media
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May
05

The cost of a data breach – Scare Your Customers

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On May 2, 2011 Sony warned that 77 million of its customers many have had their name, address, email address, birthdate, gender, phone number, credit card, debit card, login name and password. On May 5, 2011 Michaels Store warned all their customers by an email of PIN pad tampering in Chicago.

With the different US federal and state privacy laws every customer, no matter where in the US they live, have been sent an email explaining and warning their customers to monitor their bank accounts for fraudulent activities.  According to different marketing documents these companies can expect to lose an average of 30% of their existing customers.

So as a business owner ask yourself:

  1. How much does it cost to acquire a new customer?
  2. What’s the average revenue from all your customers?

So now take 30% of your customers and multiply it by the summation of the cost to acquire and average revenue. Can you afford this loss?

If the large corporations with large IT budges and netword can get hacked, how easy it your hackers to attack your networks? Don’t look at security costs as a “Pay now or maybe pay later” because the later may lead to your company’s bankruptcy.

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