In Bangladesh, rogue hackers in 2016 robbed the country’s central bank of US$100 million, with some of the money later traced to Sri Lanka and the Philippines.
This raises some questions. How can companies regain the trust of customers if their data has been stolen? Can we reverse or at least slow the growth of cybercrime?Until today, one of the most popular but mistaken beliefs we’re hearing from ordinary consumers is that “Cybersecurity is not my problem”, or “Cybersecurity is someone else’s responsibility”, passing the blame – sometimes, rightly so - to banks, credit card companies, online stores, or other companies which allow online transactions.
Consumers need to keep their accounts secure by following basic rules, including creating difficult passwords, not giving them away, changing passwords often, using two-step verification processes, and logging out of accounts or computers not in use. That sounds easy, but worryingly, a survey has shown that 35 per cent of Americans do not change their passwords.
To beat cyber criminals, the IT industry has been hiring so-called ethical hackers, whose job is to discover security vulnerabilities in the computer systems of companies and organisations. In case of a data breach, customers want companies to explain what happened and what they are doing to solve the issue. If a company makes a mistake, consumers want to hear an apology and see some action, or even compensation.Of course, there needs to be some financial investment in removing obsolete IT systems and replacing them with robust ones.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »