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Cyber Crime Poses a Growing Threat to Company Security

Executives should pay greater attention to their companies’ information security and privacy efforts, warns Protiviti, a global business consulting and internal audit firm. It says that countries around the world experienced a record-breaking volume of cyber crimes in 2009 with 220 million personal records, including credit card data, medical information and Social Security numbers compromised by cyber criminals. Such illegal activity increased everywhere in the world and struck every 10 seconds in the United Kingdom alone[1].

As the scope of information security and privacy issues broadens there is even greater potential for it to impact corporate bottom lines and reputations. Therefore to help business leaders understand the evolving issues surrounding information security and privacy, Protiviti has partnered with Pillsbury, a leading law firm, to produce The Global Privacy and Information Security Landscape: Frequently Asked Questions. This guide pairs Pillsbury’s legal insight with Protiviti’s expertise in designing, implementing and maintaining privacy and information security processes and practices, giving executives a more complete look at the issues they face.

Ryan Rubin, Associate Director, Protiviti said, “Security threats, vulnerabilities and privacy exposures challenge every organization today, creating risks that can result in a range of issues, including revenue loss and reputation damage, if they’re not managed proactively. For most businesses, such intangible assets as customers, systems and information provide the foundation for corporate value, so businesses that don’t address their information security and privacy risks are taking a tremendous gamble with their very livelihood.”

With more than 350 questions and answers, The Global Privacy and Information Security Landscape guide provides guidance on information security, privacy trends, security breaches, privacy programs, and international laws, both for enterprises and for actual and potential victims of identity theft. The guide also discusses key laws and regulations affecting privacy that have been enacted in different geographies. With businesses now being international and with new technology structures such as cloud computing being borderless, business leaders, CIOs, security specialists and enterprise risk managers need to understand the implications of the different privacy laws that exist within different countries. This FAQ guide provides that understanding.

The Global Privacy and Information Security Landscape FAQ guide explores such key questions as:
• Are there any circumstances where law enforcement’s interest overrides an individual’s right to privacy?
• Are there instances where privacy laws may negatively affect a company’s efforts to comply with other mandates?
• What security procedures must operators have in place when they hold children’s information?
• What obligations are imposed by the disparate privacy legislation that exists in different countries?
• Are there any regulations that specifically require companies to implement a written information security policy?
• What challenges exist for multinational corporations that collect or process data in various jurisdictions?

Rubin concludes, “Given the landscape, information and privacy concerns are likely to undergo significant changes in the coming years. This guide will evolve accordingly to help businesses adapt their strategies to address emerging and changing risks.”