By Tom Kellerman
Excerpt:
“The 2008 Verizon Business Data Breach report noted that 39 percent of breaches occurred as a result of business partners. These trends illustrate how remote users and third parties- who provide Web hosting, data warehousing and/or business continuity services create increased operational risk. Most backup facilities and outsourcing arrangements contain serious gaps in security. These gaps have remained persistent due to the lack of regular penetration tests of those networks. In July of 2001, a major hosting company in Atlanta suffered a significant data breach. As a result, 300 banks' networks and users were compromised. This event illustrated the systemic risk associated with outsourcing critical functions and the expanding target for cyber-infiltration.”
Source: Bank Technology News
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