Four Stages Of Cyber Risk Management

In case anyone had not noticed that the severity of data breaches keeps reaching ever-more unnerving levels, a friendly reminder recently arrived in the form of federal indictments unsealed against a group of alleged cyber criminals. The alleged cyber gang’s hit list included the NASDAQ, major retailers and an array of other large businesses, including a slew of financial institutions. The alleged cyber gang had amassed an impressive haul over a period of years, stealing hundreds of millions of dollars and more than 150 million financial account and credit card numbers. This is on the heels of news that cyber thieves stole $45 million from ATMs in a coordinated plot spanning numerous countries.

This article also appeared in the Futurex newsletter, Data Security and Fraud Prevention Weekly Roundup (August 14, 2013).