| Identity theft poses threat to corporate reputations
Certainly identify theft is a serious issue. According to the Federal Trade Commission, it cost consumers $53 billion last year and affected almost 10 million Americans, or one in eight adults in the country. Pearson advises that corporations must make it difficult to hack into their internal company computer systems and consumer data - but there must also be the recognition that no defence is foolproof, so firms must have technology in place to alert them immediately when security is breached. Although having such an alarm system seems common sense, almost half of all malicious hacker attacks go undetected, Pearson says. She outlines a number of other steps that corporations should consider to protect their customers’ data. The first is to recognise that employees and former employees are responsible for many breaches. Employers need to look at what kind of information is displayed and how it's shared. Handing out company and/or system wide entrée is particularly dangerous and should be done judiciously. Pearson also recommends running a security audit to determine any weak spots. Frequently, she says, a corporation’s software security code can be vulnerable. The solution is replacing the code with sophisticated security architecture that “closes the holes between different parts of the business, provides multiple layers of security, and outsmarts the thieves at their own game,” she says. Finally, it’s wise to encrypt or otherwise protect customer data to hide individual customer’s identities. “The amazing thing is that security hasn’t kept pace with the rapid expansion of the online world,” says Pearson. As online commerce grows, corporations owe it their customers and themselves to be sure consumers have confidence in doing business there.
•Date:
23rd March 2004 •Region: N.America/World
•Type: Article •Topic:
ISM |
