BeyondTrust

Security In Context

Bringing you news and commentary on solutions and strategies for protecting your critical IT infrastructure.

The Soft Costs of Identity Breaches

Post by Peter McCalister March 8, 2011

I’ve been a loyal customer of Wells Fargo for over a decade. For lots of good reasons. Over the long President’s Day weekend was the first time I’ve received a call from them saying that one of the vendors I’ve paid recently has had a data breach and leaked my credit card information.

They didn’t tell me which vendor it was, but it was pretty easy to figure it out based on the fact that they verified every recent purchase up to the one I figured it was.

It got me thinking about the “soft” costs of data breaches. Whether the breach was an insider or hacker, it must have costs a good chunk of cash to call thousands of customers and re-issue a card to each one.

Meanwhile, the event capped off a series of events I experienced personally that verified that this particular vendor that leaked my credit card information just didn’t have their act together. This is my first time in recent memory actually being a victim of a data breach and I realized that I immediately associate a data leak with blatant incompetence.

Then, I wonder how/if Wells Fargo punished the vendor. For some companies, relationships – even more so than data – is the most valuable asset they have and data breaches can put a lot of different relationships at risk.

Leave a Reply

Additional articles

April VEF Participant Wins a Apple iPad mini

Every month we host our Vulnerability Expert Forum (VEF) webinar. This is a time where our experts share valuable insight regarding new vulnerabilities that are discovered and the actions that need to be taken as a result. It’s a quick way to get up to speed on current potential risks to your organization and a way to…

Post by Qui Cao April 24, 2014
smart rules manager for vulnerabilities - v2

A New Way of Looking at Vulnerabilities in Your Environment

Assets, users, vulnerabilities and exploits; all are common themes in my posts on BeyondInsight. With BeyondInsight v5.1, we unveiled a new way to view exploitable assets. Sure, most vulnerability management solutions link vulnerability data to exploit information, allowing tools like NeXpose and QualysGuard to list an asset, its vulnerabilities, and any related exploits. BeyondInsight does…

Post by Morey Haber April 23, 2014
Tags:
, , , , ,
smart rules manager for vulnerabilities

Staying on Top of the Latest Vulnerabilities with BeyondInsight v5.1

It’s no secret that dozens of new OS and application vulnerabilities are revealed every day. Staying on top of these new exposures normally requires paying for services or subscribing to multiple RSS feeds. BeyondInsight 5.1 provides customers with another option: a built-in, customizable vulnerability alerting system that delivers up-to-date information on the latest vulnerabilities in…

Post by Morey Haber April 21, 2014
Tags:
, , , , , ,