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Threats to global business.

Document Cited in Related
Vincent
AuteurDonnellon, Brian
Fonction Economic News

Criminals are no longer using masks and shotguns but have moved onto computers and social engineering. Businesses are migrating their data into cloud technologies and the crooks have followed them. Most businesses rely heavily on the internet but many executives simply do not understand the dangers. Small companies are particularly at risk with no internet security policy in place. Attacks will continue to become more sophisticated and, whilst organisations are improving security systems, so are the cyber criminals. Threats include employees bringing their own unsecured devices to the workplace, cyber crime and data privacy in the cloud.

Cloud computing lowers IT costs and improves efficiency but the information security implications are serious. When a company moves sensitive data to the cloud they must check whether the information makes an individual personally identifiable and if so it requires adequate protection. Governments are forcing organisations to treat privacy as both a compliance and business risk issue. Cross-border transfers are particularly tricky and organisations must identify where the cloud information is actually stored and processed.

A recent example of our vunerability is the Fleartbleed Bug. For years we were told that when the closed lock is displayed in the browser...

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