"It should provide fuel for anyone calling for data breach legislation to include criminal sanctions ...," says Neal O'Farrell of the Identity Theft Council. "This was nothing short of a clumsy cover-up."
Ineffective or noncompliant security practices of service providers, the inability of customers to examine controls, the prospect of data leakage and the loss of data if a cloud service is terminated present challenges.
Deputy Defense Secretary William Lynn III cautions that cuts to IT security initiatives, when they come, must be carefully applied, and certain areas must remain exempt from the budget ax, such as cybersecurity.
"Organizations are putting in layers of security and tools to safeguard information and assets, however, the fraudsters are attacking our weakest link, the consumer," says Anthony Vitale of Patelco Credit Union.
House Republicans issue their cybersecurity legislative agenda that, in many respects, parallels the goals offered by the Obama administration and Senate Democrats, but it definitely has a GOP tinge to it.
UBS's $2 billion loss to rogue trading provides lessons for all banks. What's missing in today's financial institution culture is a balance between profits, ethics and governance, says risk management expert Frances McLeod.
Eric Rosenbach works with Defense Secretary Leon Panetta and other top DoD leaders to formulate, recommend, integrate and implement policies and strategies to improve the Defense Department's ability to operate securely in cyberspace.
"With a company-issued device, you can issue a policy that says users have no rights of privacy over information on the device," says Javelin's Tom Wills. But with employee-owned devices? A whole new set of issues.