Unbeknown at the
time, last holiday season’s credit card security breach involving tens of
millions of Target customers began with a malware-laced e-mail phishing attack
sent to employees at Fazio Mechanical Services, Inc., an HVAC firm that was
contracted for electronic billing, contract submission, and project management
with the nationwide retailer.
The Wall Street
Journal reported that financial institutions in the case of the Target breach
have spent more than $200 million to ease consumer concern while spending $172
million alone just to replace cards that have been compromised. Post breach
costs to rectify resulting, adverse issues associated with it have been termed,
‘staggering.’
The Ponemon
Institute reports on average, data breaches and subsequent fines and litigation
costs U.S. business $534 million every year, the highest in the world. The
direct monetary costs combined with the dramatic expenses of violated consumer
relations and potential non-compliance with payment card industry security standards
can cripple an organization of any size.
As a follow-up to
the holiday shopping Target attack, Forbes recently published an article posing
three critical questions for information technology (IT) security
organizations: “Did Fazio Mechanical really need electronic connectivity to
Target’s networks?; Did Target investigate and test Fazio’s security before
connecting them to the network (and vice versa)?; How did an attacker get from
the part of Target’s network that Fazio was connected to over to Target’s
payment network (and not get noticed!)?” All questions combined net the most
pertinent question of all: “HOW do you prevent a security breach?”
Fazio Mechanical’s
strategy to avoid malicious, Target-like cyber-attacks was to use a free
version of Malwarebytes Anti-Malware (MBAM), which is designed for identifying
and removing threats in individual user environments but not intended for those
operating in corporate environments as explicitly stated in the software
license.
Ecrypt Technologies,
a publicly traded emerging provider of data security solutions, is focused on
solutions to address information security challenges of the 21st Century. The
company enables organizations of all sizes to communicate and collaborate in
Target-like environments without the risk of liability, reputation damage,
competitive threat, security breach, or other adverse outcomes.
The company’s
primary solution is an integrated e-mail and encryption server that can be
quickly deployed to fortify the security of corporate communication, including
attachments and mobile devices, against data breaches while eliminating
phishing threats, malware infections, and spam.
From security
consulting to full implementation, Ecrypt specializes in five market sectors:
healthcare, government and military, law enforcement, legal services, and
financial services. In these sectors, Ecrypt removes human vulnerabilities to
optimize enterprise security; fortifies against data leaks, device theft and
e-mail-originated threats; provides granular role-based access controls for
system administrators; and secures communications with third parties, like
vendors and clients.
Security breaches
such as the one experienced by Target represent one of many cyber-attacks
directed at global organizations every single day. The FBI in January 2014
issued a warning that intrusions into point-of-sale (POS) systems are on the
rise, despite heightened action by law enforcement and security firms to
mitigate the attacks.
By using Ecrypt’s
paradigm-shifting technology, companies alleviate the need for separate
encryption servers with their associated bloated administration and multiple
points of weakness, demonstrating that the success of cyber-attacks doesn’t
necessarily have to rise in proportion to increasing numbers of actual attacks.
With adequate security solutions in place, an organization has the power to
successfully defend itself from attacks even on a daily basis.
For more information
visit www.ecrypt.com
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