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Author: admini

Cybercrime Costs US Economy at Least $117B Each Year

Posted on July 26, 2007December 30, 2021 by admini

Cybercrime has become a threat to the nation’s economic and security interests, according to a report released Monday by a Congressional research and investigation agency.

“These projected losses are based on direct and indirect costs that may include actual money stolen, estimated cost of intellectual property stolen, and recovery cost of repairing or replacing damaged networks and equipment,” says the report, released through the offices of Reps.

What’s more, he added, a lot of cybercrime goes undetected. “There’s more expertise in the private sector, where it’s easier for a corporation to have an instant response team of professionals that deal with these issues,” Bedser said. “They can go in, figure out what happened, clean it up, fix it and keep the business running quicker and more effectively than calling in criminal investigators to look into the problem.”

The GAO report acknowledges that certain personnel policies at federal law enforcement agencies may be hurting the fight against cybercrime.

“In order to address the challenge of ensuring adequate law enforcement analytical and technical capabilities,” it continues, “we are recommending that the Attorney General and the Secretary of Homeland Security reassess and modify, as appropriate, current rotation policies to retain key expertise necessary to investigate and prosecute cybercrime.”

http://www.technewsworld.com/rsstory/58517.html

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Are security pros worrying about the right stuff?

Posted on July 25, 2007December 30, 2021 by admini

When asked this, many independent observers – former CSOs or consultants working with CSOs – offer a different perspective. They think security pros need to worry more about retaining the best staff and should be careful not to become too consumed with regulatory compliance.

What has security pros worried?Michael Barrett, CISO at eBay money-transfer service PayPal, says there is always an undercurrent of panic in the event that something blows up. “Most datacenters are held together by sheer heroic effort,” he says. Because PayPal is a global company, Barrett says he worries whether the company has the right interpretation on legislation and regulation related to data privacy around the world and the right controls in place. His long-range concerns have him asking questions such as: In terms of stopping criminals and attackers, do we have the right investment mix and the right set of projects?

Adam Hansen, the IT security chief at Sonnenschein Nath & Rosenthal in Chicago, says his main worry is data privacy and the possibility of a data breach. The creative content, whether pre- or post-production, is held in film canisters and digitally on servers, and Technicolor guards it through tight physical and IT security.

Risk management can sound like a “Mission: Impossible” episode in large organizations with many lines of business, tens of thousands of employees, and lots of applications and networks to keep an eye on.

“I’m always on call,” says Jalal Zamanali, senior vice president of IT and CISO at Temple-Inland in Austin, Texas, and its subsidiary Guaranty Financial Services, with combined interests in corrugated packaging, forestry, real estate, and financial services. Although he has a security staff of 17 to stay abreast of IT projects, Zamanali says his top concern is making sure security controls are on track in terms of regulatory compliance rules related to the SOX (Sarbanes-Oxley) and Gramm-Leach-Bliley laws. “The chief audit officer has to translate these laws into control points,” Zamanali explains. Consequently, Zamanali – who reports to the chief risk officer – makes sure he meets with the chief audit officer about once a week to discuss compliance issues.

Beth Cannon, CSO at merchant bank Thomas Weisel Partners in San Francisco, says audits to provide evidence that security policies are enforced in IT systems and processes are her main worry.

What CSOs should be worrying aboutConsultants and other industry experts don’t dismiss the issues that CSOs and CISOs are worrying about, though they recommend a host of things that might warrant even more of security professionals’ attention. CSOs should worry about losing their jobs because all too often their stance on security is seen by upper management as overly technical or a bad fit, says Jon Gossels, president and CEO of consultancy SystemExperts in Boston.

Brad Johnson, vice president at SystemExperts, say one key worry that CSOs should have is where and how they’re going to find and retain the best security-savvy employees.

Zeitler, whose 30-year career included positions as CISO at Volkswagen Credit and head of security at Charles Schwab and Fidelity Investments, says a top concern for CSOs should be whether they can find personnel with the right skills at the right price. He points to computer forensics, which requires people trained in procedures to capture potential evidence and preserve it appropriately, as an example.

What to do about compliance Howard Schmidt, the former security chief at eBay and Microsoft and former White House cybersecurity advisor, says there’s no doubt that regulatory-compliance issues are going to be a top worry for the CSO or CISO.

http://www.infoworld.com/article/07/07/24/security-standard-01_1.html

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Piecing together IBM’s security puzzle

Posted on July 24, 2007December 30, 2021 by admini

Yet the common theme throughout the company’s overarching strategy is not one that emphasizes competition in hot markets or via standalone products, executives say, but rather an approach that attempts to mix security skills into almost all of its existing business lines as a component of its larger vision.

All of those efforts tie back into the notion of lowering customers’ security concerns either by bolstering the onboard protection of its products or fostering business controls that benefit areas like regulatory compliance, the executive said.

The effort is being undertaken in the name of helping businesses drive security further into their own software development efforts, a trend that is currently sweeping across that sector.

http://www.infoworld.com/article/07/07/23/Piecing-together-IBM’s-security-puzzle_1.html

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Symantec Bats Botnets with New Tool

Posted on July 21, 2007December 30, 2021 by admini

“It’s designed to be complementary to anti-virus and internet security products,” said Ed Kim, director of product management in Symantec’s Consumer Division.

Kim noted Symantec’s Norton products already have some behavioral detection capabilities. Kim said Symantec detected a 29 percent increase in active bots in the second half of 2006 versus the first half of 2006, and the total number of active bots detected was greater than 6 million.

Earlier this year, Mi5 Networks added technology to its Webgate appliance to help organizations detect botnet activity inside their networks and combat malware in Web traffic.

http://www.eweek.com/article2/0,1759,2161088,00.asp

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DoJ Sends ID Theft Bill to Congress

Posted on July 20, 2007December 30, 2021 by admini

“This proposed legislation is a firm step in the right direction in updating our identity theft laws to meet the needs of investigators and prosecutors who are working daily to punish identity thieves, and help victims put their lives back together,” Attorney General Alberto Gonzales said in a statement.

Deborah Platt Majoras, chairman of the Federal Trade Commission and co-chair of the president’s Identity Theft Task Force with Gonzales, said the bill would enhance law enforcement’s ability to crack down on identity theft.

http://www.internetnews.com/bus-news/article.php/3689936

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UK needs cyber-crime reporting body

Posted on July 20, 2007December 30, 2021 by admini

The UK did previously have such an e-crime body, the National Hi-Tech Crime Unit (NHCTU). Roberts added the UK needs the return of the NHTCU, or a similar organisation that understands e-crime, has an international remit and has the authority to do something about electronic crimes. SOCA said the NHTCU has become the core of the e-crime unit of SOCA, with an expanded remit and greater resources. In exactly the same way as happened under the NHTCU, a business that has fallen victim to an e-crime should report the matter to the police.”

The SOCA spokesman added: “SOCA e-crime has taken the private sector relations built by the NHTCU and developed them into a core part of its strategy. We liaise closely with business communities on a sector by sector basis, and will be seeking to increase both the extent and depth of this relationship, as well as joining up the work of key contacts from the world of law enforcement, both nationally and internationally.”

http://www.silicon.com/publicsector/0,3800010403,39167883,00.htm

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