Jen's Blog

Monday, October 23, 2006

HW Post

excerpt: The Internet is relatively low risk

When known, 90% of unauthorized access to sensitive information is through non-electronic traditional channels. The Internet as a source of information breach is relatively lower risk. Of the total fraud cases cited in the survey, only 9% named phishing, hacking, computer viruses or spyware as the source of information breach. To resolve a case where information is stolen over the Internet costs the consumer $459.

The fastest detection method is electronic monitoring of accounts (i.e., supervising accounts over the Internet) at 22 days. Paper monitoring of accounts (i.e., supervising accounts through mailed paper statements) takes 12 days longer. The majority (65%) of
fraud discoveries through paper statements are made within the first month while 63% of fraud discoveries through electronic channels are made within the first week. Average fraud amounts for paper statements are 42% higher than those for electronic monitoring.

I feel as though there needs to be more money invested in protected the security of people online. This day in age, everyone uses the internet for just about anything and everything. People have very important and vital information out there on the web that would be absolutely horrible if someone got ahold of it. It doesnt surprise me that the fastest detection method is at 22 days but I do feel as though we should not accept this number and move on. I feel as though people need to be pushing for more work in developing faster and better ways to secure our information. 22 days in nearly a month and someone could do some serious damage if they had hold of vital information for that long.
The survey results surprise me because I would except hacking and phishing to be methods of information breach. When you hack into a database and take all the info that you please, isnt that considered an information breach?
The internet sometimes scares me because I get my bank statements online and I even buy things from time to time with my debit card or parent's credit card. If anyone got that information then I would be in big trouble. There are so many of those funny commercials with identity fraud out there. It is so true though and a huge risk on the part of all internet users.

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