Security threats Toolkit

Story: Hackers steal 40 million credit card numbers

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INSURE CYBER BUSINESSES

The ATM and other bank frauds are not the sole problem of banks alone. It is a big threat and it requires a coordinated and cooperative action on the part of the bank, customers and the law enforcement machinery. The ATM and bank frauds not only cause financial loss to banks but they also undermine customers' confidence in the use of ATMs and internet banking facilities. This would deter a greater use of ATM and internet banking for monetary transactions. It is therefore in the interest of banks to prevent these frauds. There is thus a need to take precautionary and insurance measures that give greater "protection" to the banks, particularly those operating in less secure areas. The nature and extent of precautionary measures to be adopted will, however, depend upon the requirements of the respective banks.

http://perry4law.blogspot.com/2005/06/preventive-measures-for-atm-frauds.html

The importance of “cyber insurance” has not been realised and accepted by the insurance sector all over the world. It seems the insurance sector is waiting one of its competitors to take the lead and then follow the path shown by it. This seems to be a flaw on the part of management policy making. The benefits and profits are tremendous when the field is unexplored. The golden rule of profit making is “more the risk more will be the profit and vice-versa”. The scope of profit making reduces when the number of competitors increases. It would be appropriate to mention in this regard “the future belongs to those who focus on it sharpest”. Thus, there is no scope in any business venture but the scope lies in the person holding and managing the same.

http://perry4law.blogspot.com/2005/06/insuring-data-property_111831618809117833.html

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