BIS Week 3 Assignment
Preventing Security Breaches: Collaborative Summary
Latesha Hamilton
BIS 221
April 29, 2015
Lisa Hatherill
Data breaches and cyber-attacks frequently has dramatically increased in recent years, with the advancement of technology and the prevalence of more “cloud” storage and remote access servers. In Mr. Horton’s article, he remarks on the high cost a data breach can have on both finances and company’s reputation. (Horton, 2014) Citing the Ponemon Institute’s 2013 Cost of Data Breach Study, Horton goes on to state that “data breaches can cost an average organization more than $5 million per incident. (Ponemon Institute, 2013)
While the effects of one of these attacks is realized at a much higher price for larger businesses, smaller companies are actually targeted more often because of their lack of security infrastructures and data monitoring systems. In fact Horton claims that more than 90% of data breaches affect small businesses. (Horton, 2014) These startling numbers leave many small business owners wondering what they can do to reduce the risk associated with cyber-attacks.
There are countless steps that can be taken to safeguard a company’s data systems against intrusions. The company can update POS (Point-of-Sales) systems to EMV (Euro pay, MasterCard, and Visa) technological standards, implementing “layering” encryption and tokenization, and utilizing outsourced penetration tests to access and report on company’s current information security strength.
With cost ranges averaging millions of dollars per incident and the elevated risk toward
Small businesses, all organizations should begin investing in new technology to protect their databases and information. Horton’s article goes over multiple different options to avoid cyber-intrusions. For example “layering” encryption and tokenization, updated POS systems, and contracted penetration tests. By focusing on these three areas of a company’s information security infrastructure, you
Latesha Hamilton
BIS 221
April 29, 2015
Lisa Hatherill
Data breaches and cyber-attacks frequently has dramatically increased in recent years, with the advancement of technology and the prevalence of more “cloud” storage and remote access servers. In Mr. Horton’s article, he remarks on the high cost a data breach can have on both finances and company’s reputation. (Horton, 2014) Citing the Ponemon Institute’s 2013 Cost of Data Breach Study, Horton goes on to state that “data breaches can cost an average organization more than $5 million per incident. (Ponemon Institute, 2013)
While the effects of one of these attacks is realized at a much higher price for larger businesses, smaller companies are actually targeted more often because of their lack of security infrastructures and data monitoring systems. In fact Horton claims that more than 90% of data breaches affect small businesses. (Horton, 2014) These startling numbers leave many small business owners wondering what they can do to reduce the risk associated with cyber-attacks.
There are countless steps that can be taken to safeguard a company’s data systems against intrusions. The company can update POS (Point-of-Sales) systems to EMV (Euro pay, MasterCard, and Visa) technological standards, implementing “layering” encryption and tokenization, and utilizing outsourced penetration tests to access and report on company’s current information security strength.
With cost ranges averaging millions of dollars per incident and the elevated risk toward
Small businesses, all organizations should begin investing in new technology to protect their databases and information. Horton’s article goes over multiple different options to avoid cyber-intrusions. For example “layering” encryption and tokenization, updated POS systems, and contracted penetration tests. By focusing on these three areas of a company’s information security infrastructure, you
References: Horton, T. (2014, May 1). The Right Technology Fix Can Help Prevent Breaches. Retrieved April 29, 2015, from ProQuest: http://search.proquest.com/docview/1548709638?accountid=458 Ponemon Institute. (2013, May 28). Cost of Data Breach: Global Analysis. Retrieved April 29, 2015, from Ponemon Institute: http://www.ponemon.org/local/upload/file/2013%20Report%20Global%20CODB%20Final%205-2.pdf