9/11 One Year Later: Firms Brace for Cyber Attacks

One year after the terrorist attacks on the World Trade Center and the Pentagon, most security experts polled by CSO Magazine said they consider the threat of electronic attacks a greater concern than the risk of future physical attacks. Nearly half expect a major cyber attack by a terrorist organization within the next year.

Thanks to the foresight and hard work of security workers everywhere, the nation is better prepared today than it was a year ago. Key risk management techniques:

  • Creation of a position known as the Chief Security Officer (CSO).
  • Use of insurance for losses caused by cyber crimes.
  • Holding technology vendors accountable for the reliability of their security offerings.
  • Exploring new technology, especially biometrics (retina-scans, fingerprint scans, etc.) Only 9% of the CSOs surveyed have already adopted biometrics, but 48% plan to do so in the future.

The survey also probed that backgrounds of today's CSOs and found the vast majority (88%) have previous work experience in information technology, though significant minorities also have experience in fields such as security consulting, military and engineering. Interestingly, these CSOs also say the greatest risks of damage and economic losses may come from internal rather than external sources. Fully 53% believe current employees pose a greater threat to their company's technology infrastructure than former employees or external persons.

-Rosemary Schlank

You may like these other stories...

Accountants without a succession plan are hurting not only themselves but their clients as well. Here are seven ways to see your practice continues after you retire—some of them are better than others.What Are Your...
In my last article, I discussed the model of value pricing and the benefits this billing structure offers you and your clients. However, in order to set up the right value pricing for your client, you need to know what...
Remember the old joke about the devil showing a guy around Hell? There were great parties, swimming pools, and sumptuous food. The guy liked what he saw, lived a bad life and went to Hell when he died. Upon arrival the devil...

Already a member? log in here.

Upcoming CPE Webinars

Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 10
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.