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Sunday, 12 July 2015

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Cyber crime, a growing phenomenon

Cyber security is about building confidence and security in the use of ICT. The need of the hour is the awareness of possible threat and speed of response, Vice President, Certis Integrated Solutions Group, Singapore, Edwin Lim told a presentation in Colombo last week.

Cyber space is the domain generated by the interconnection between computers and telecommunication networks to store, modify and exchange data via networked systems and associated physical infrastructures without regard to physical geography. Therefore, its security largely depends on the data and ICT security, he said.

Because of cyber space’s great dependence on informatics and telecommunications for almost every activity and service, it’s extremely dangerous to ignore the growing phenomenon of cyber crime and the increasing number of threats to people’s lives, activities and also governmental systems. Sources of cyber threats may be unintentional accidents, or due to vulnerabilities and negligence. However, they can also be intentional, such as direct attacks on systems.

The objectives of the attackers can be to shut the system down, to gain access to systems and steal crucial data, to make illegal financial transfers, disrupt records or to manipulate data and code to introduce harmful instructions.

Attackers can be recreational hackers, crackpots or terrorists. This can happen to business entities and interests, and the private and government sectors. Banking institutions, energy, state agencies, hospitals, business, education and even social affairs rely heavily on online presence.

With information flowing through boundaries of different legal systems connected to different networks around the globe, there is a growing need to protect personal information, funds and assets and national security.Thus, cyber security issues are gaining interest in the public and the private sectors.

Cyber security is an important Business Continuity Planning (BCP) / Continuity of Operations (COOP) issue, but like everything else in the BCP/COOP world, unless you get it across the board, cyber security policies and procedures will be ignored.

Modern security is about rapid response, isolating attacks, acting quickly, sharing information and awareness at the senior executive and board level of companies. As the world becomes increasingly interconnected, Business Continuity/COOP professionals must pay more attention to the security of their organisation’s connections.

Every week there are headlines about hackers bringing an organisation to its knees.

The stolen funds, bad publicity and embarrassing revelations are front page news. The best protection is to implement plans and procedures.

The best way to demonstrate the need for procedures is to perform a cyber security audit and implement the recommendations, he said.

- SJ

 

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