A significant data breach is not a just a CIO’s nightmare. All members of the board, particularly the CEO, know their personal reputation as well as their bonus is at stake.
Mass-mailer, worm and denial of service attacks have become front-page news because of their impact on the general population. However, the attacker profile has shifted from publicity seekers to criminals attempting to profit from system and network vulnerabilities. Many attacks are now aimed at specific institutions, and it is becoming critical for organizations to build the ability to understand incoming traffic and correlate events from many devices to prevent incidents or to recognize them early and limit their impact.
Data corruption or loss can have a drastic impact on company operations and financial performance, even if it is relatively quickly rectified. However, the loss of confidence from customers, investors, partners and suppliers is likely to linger far longer and cause greater long-term damage. Trust is the cornerstone on which the financial services industry was built; without it your customer value proposition collapses.
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