IS CYBERCRIME A THREAT TO YOUR BUSINESS ?

Welcome back. I will be starting an article series on how cyber crime could be a threat to your business

The need for protection against cyber crime is ever increasing, especially considering the volume of personally identifiable information (PII) and financial transactions which corporations and financial institutions manage on a daily basis. Moreover, cyber crime is often a transnational threat, creating even more difficulty for law enforcement to pursue cyber criminals. The added complexities of international inconsistencies with respect to laws pertaining to PII exacerbate the problem, and current cyber crime legislation in key areas around the world currently does not permit virtual self defense.

Data protection law has been the subject of an increasing number of jurisdictional disputes, which have largely been driven by the ubiquity of the Internet, the interconnectedness of the global economy, and the growth of data protection law around the world in recent years.

There are also an increase Artwork: A number of instances where data protection law conflicts with legal obligations in other areas. Moreover, the rapid development of new computing techniques (such as so-called 'cloud computing') is putting even greater pressure on traditional jurisdictional theories. Jurisdictional uncertainties about data protection law have important implications, since they may dissuade individuals and companies from engaging in electronic commerce, can prove unsettling for individuals whose personal data are processed, and impose burdens on regulators. These difficulties are increased by the fact that, so far, there is no binding legal instrument of global application covering either jurisdiction on the Internet or data protection.

This discussion is restricted to traditional crimes committed through virtual means and the implications of potential solutions. This articles address how corporations and financial institutions can conduct e-commerce in areas with minimal security and cyber law enforcement capabilities and also discuss the question of which areas and organizations are most often targets of cyber crime and which attackers pose the greatest threat to e-commerce is also discussed.

We will continue from here next time...............................