Another Data Security Breach

Mastercard announce this week that they had a major data security breach. Apparently the region around New York city was mostly affected. How does this happen with a company as big as mastercard? Well it shows that every company is at risk from the very dedicated and technically savy crooks. Risk managers have started to really crack down on this problem and risk mitigation techniques are becoming more and more develped. Also many of the commercial insurers are offering insurance coverage for the risk. The policies are being changed and developed as claims are being presented and paid. Computer companies are tackling the problem with more technical and product solutions to avoid data breaches. As anyone can see, the whole business world is doing everything they can to stop the problem, but it still goes on. I guess it is like a bank that spends millions on security but still has a hold up. It is virtually impossible to stop a human being who wants to be a thief and computers are giving these individuals plenty of tools to commit thier crimes. Risk managers keep fighting the fight and insurers keep developing your cyber products and finally computer companies continue your software guards. We need all of you to win this fight. Until next time be careful out there and know your risks. K

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