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Online security vital these days

January 26, 2012

A recent report highlighted the increasingly prevalent threat of a cyber attack on government agencies and private institutions.

A recent report highlighted the increasingly prevalent threat of a cyber attack on government agencies and private institutions.

“Global Risks for 2012” revealed that cyber attacks were among the top five risks for governments and companies worldwide. According to the study, hackers have been attracted to the online crimes because of how valuable the retrievable data can be.

In an interview with Business Standard, an Indian security consultant said that stolen data was truly a buyer’s market. He also said that companies needed to be extra cautions.

“Since there is a great deal of competition in the cyber black market, the rule of supply and demand ensures that prices are competitive, with operators even offering bulk discounts to high-volume buyers,” says the consultant, who works at a leading pharmaceutical R&D firm in Bangalore.

One of the best ways companies can ensure that client information is protected is by ensuring compliance with payment card industry (PCI) standards. Firms that fail to achieve PCI compliance this could be risking sensitive data.

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