Cyber crimes cost businesses $1 trillion in 2008

February 10, 2011

In a recent interview in which the Director of National Intelligence stated that cyberterrorism is a huge threat to our security in the United States, he also said that businesses lost an estimated $1 trillion to cyber crimes in 2008. I can only imagine that that number increased in 2009 and 2010 and will continue to increase. I’ll discuss this more in a post later but just wanted to throw that out there in case it surprised anyone else as much as it did me!


What do you think about WikiLeaks?

December 6, 2010

Should Julian Assange go to jail? Is he an international terrorist? I’ve heard so many different opinions on the man and the website who is responsible for the release of so many classified documents and everyone seems to agree that what he did is wrong but what should the punishment be. Maybe you don’t even think he should be punished.

The latest news today was that Assange will be meeting with his attorney and police today to begin to figure out what happened and what if any laws he’s broken. I’d be interested to hear your thoughts on the subject.

$3,000,000 spent and nothing picked up by insurance!

August 26, 2010

Sorry for the absence but things have been crazy around the office and I let blogging get left behind. While I’ve been gone there has been a ton of data breaches and other related events happening so I hope you’ve been able to keep up. While reading an article today I found one that might hit home for some of you. A data storage company suffered a breach and lost HIPAA information for a large number of patients. That information caused the client to spend over $3,000,000 dollars to comply with the breach notification laws.

The client has come back on the storage company who reported the loss to their insurance company only to find out a breach of data isn’t covered on the general liability policy. This is an instance that a cyber liability or data privacy policy would respond to. Because the broker wasn’t educated in the space, someone is going to have to come up with over $3,000,000 to reimburse the client for their expenditures. This isn’t a situation I’d want to find myself in.

To read the entire article, click here.

Google Pulling out of China

March 19, 2010

Although the report is very vague right now, it looks like Google will pull out of China as previously threatened on April 10th. Google has not confirmed this report nor is it clear if they are closing all or just some of their operations there. Whether or not they close all of their operations, this is a sign that the tensions between China and Google are not diminishing.

To read the entire article, click here.

China is Back on the Attack

March 8, 2010

Recently NATO and allies have warned people about increased cyber attacks that are targeting important government and intelligence computers. And no surprise, many of these attacks are originating in China. A report released by the FBI last week stated, “a real and expanding threat.” It appears that these attacks are designed to fish for important information or to disrupt important systems. It is believed that approximately 1.6 billion attacks are targeted at our government each month.

To read more, click here.