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Understanding Vulnerabilities in Business Security: Lessons from Major Hacks

In recent years, significant security breaches have led to millions in losses for companies like Citigroup, Sony, and News Corporation. These incidents reveal vulnerabilities not only due to technological flaws but also human errors and organizational policies. As companies navigate the balance between strict security measures and operational freedom, the question arises: What policies effectively safeguard business continuity? This article explores the financial impact of hacks, the challenges of maintaining security, and the critical need for comprehensive management policies to protect against vulnerabilities.

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Understanding Vulnerabilities in Business Security: Lessons from Major Hacks

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Presentation Transcript

  1. Security and Control Soetam Rizky

  2. Why Systems Are Vulnerable?

  3. Vulnerability • Citigroup: Customer losses from hack attack reaches $2.7M – 2011 • Hacked in April to June 2011, Sony reportedly lost almost $171 million • Money stolen from the hacked business accounts was used by a group related to Al Qaeda to fund terrorist attacks in Asia. According to reports, refunding costumers cost AT&T almost $2 million. • $1 million was stolen from stock brokerages Fidelity Investments, Scottrade, E*Trade, and Charles Schwab. The rest of the money was taken from fraudulent tax refunds, with the stolen identities of more than 300 people. • News Corporation made a loss of $1.6bn (£1.2bn) in the last quarter as it absorbed $2.8bn in charges related to a plan to spin off its ailing publishing businesses.

  4. Vulnerability By People ? By Accident ?

  5. Before we continue….. • Suppose you’re a CEO which policy would you choose : • Very strict • Moderate • Full of freedom

  6. That’s why We Need Security & Control

  7. Security Aspects for Management

  8. Security Aspects for Management

  9. Quick Summary

  10. Before we continue…… Suppose that your company involve in serious fraud, and you got the electronic evidence, what would you do ?

  11. Security  Ensuring Business Continuity

  12. Security  Ensuring Business Continuity

  13. Security  Ensuring Business Continuity

  14. Quick Summary

  15. Before we continue…… As customer, can you mention which company is really care about ensuring business continuity ?

  16. Before we continue…… What is the real disaster for digital firm?

  17. Opportunities & Challenges

  18. Questions /Comments ?

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