Credit crunch should not be a cause for reducing security

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Organisations have been encouraged to strengthen security rather than reduce it in the current financial environment.

 

Prof. Howard A. Schmidt, president of the Information Security Forum (ISF), has urged companies to not let the credit crunch compromise security. Schmidt, who has been special advisor for cyberspace security to the White House and held senior security roles at eBay and Microsoft, encouraged the need to be more vigilant than ever to avoid exposure to increased exploitation.

 

In a recent address at the ISF Annual World Congress in Barcelona, Schmidt said: “Cybercrime is on the rise and profit-driven attacks are replacing random individual hacker attacks targeted at critical, core business applications and data repositories that underpin global business and commerce.

 

“Information security can only be solved through a combination of technology, business processes, education and training and greater involvement of qualified information security professionals in business strategy and planning.

 

“In addition to the growing number of sophisticated threats, increasing compliance demands from corporate governance and legislation are putting more pressure on senior business and information security managers. It is important that the pressure for compliance does not divert attention and investment away from solving some of the real practical risks.” 

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