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Global recession causing more security risk

Saturday, May 15, 2010

Increasingly displaced and malicious employees are turning to cyber crime by trying to damage and exploit, steal information network which can cost a lot for the company, here we talk about billions of dollars guys!!!! do not underestimate it.
nowadays due to global recession companies' vital informations are at greater risk than ever before.
based on an official report "Unsecured Economies: Protecting Vital Information" which was released at World Economic Forum shows the 42 percent increase in corporations' security risk and suggest that the biggest threat to sensitive information are insiders!!!!

here is another cases of insider threats that i found from (http://www.readwriteweb.com/archives/laid_off_employees_turning_to.php)

"The most recent example can be found in disgruntled Fannie Mae engineer Rajendrashinh Makwana who was indicted for allegedly planting a logic bomb in the mortgage lender's computer network. Fortunately, the embedded code was discovered by another engineer before it caused any damage, which would have been substantial. "Had the virus been released it would have caused millions of dollars of damage and reduced if not shut down operations for at least a week," said FBI Special Agent Jessica Nye.

According to some reports this breach may have been averted had Fannie Mae terminated Makwana's network access immediately after firing him.

Last year, Terry Childs, a San Francisco computer engineer was charged with masterminding the hijacking of the city's network when he allegedly refused to allow other administrators to get into the system; locking down law enforcement records and payroll documents.

In another 2008 incident, 21 year old David Everett, a tech support person at Wand Corporationdecided to turn to cybercrime to seek revenge on his former employer after he was laid off. Breaking into the network, Everett allegedly planted three malicious files on 1000 servers in an attempt to bring the system down. Although he did get into the system, he only managed to crash 25 computers before the company was informed of the attack by concerned customers. Earlier this year, Everett pleaded guilty to computer hacking charges and now faces 10 years in prison.

Clearly, corporations must begin to proactively protect themselves against insider cybercrime."


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