Upon questioning our Chief Information Officer regarding risk assessment and management in our organization, I was informed that we had a very well-developed system in place, one whose efficiency and effectiveness were an outcome of trial and error.
At the end of the 20th century, we have witnessed the massive transition from isolated, disconnected computers to networked computer clusters all over the world. At present time, there are an estimated 250 million networked hosts world-wide (Telcordia, 2002). This global pervasive connectivity has been a boon for consumers, businesses and governments alike due to the ease, convenience and speed of electronic data exchange. However, the ease of use and relative anonymity that the Internet affords has been leveraged by criminal elements, as well. Indeed, no private, commercial or government agency is completely safe or has been unaffected by the proliferation of this kind of cyber-crime. E-Commerce Times reported that the ILOVEYOUvirus affected 45 million hosts and inflicted monetary damages to the tune of estimated $2.6 billion (Enos, 2000). ...Show more