Security Risks Rise As Companies Cut Tech Budgets

[OhioChick]

Source: Reuters

Waiting for the recession to be over before investing in expanding security infrastructure is risky, according to an analyst group.

By Reuters
December 10, 2008 03:47 PM

BOSTON - The recession is making businesses more vulnerable to computer attacks as corporate spending on security software slows, while job losses boost the allure of hacking.

Tech research firm Gartner Inc sees global security software sales rising just 13 percent in 2009 to $14.4 billion, slowing from 23 percent in 2008. Gartner analyst John Pescatore says that may be overly optimistic.

"In bad economic times companies take more risks," said Gartner's John Pescatore. "It has to come down some."

Businesses need to regularly upgrade their computer security systems, experts say, because criminals are constantly improving their technology, finding new vulnerabilities and ways to avoid detection.

Waiting for the recession to be over before investing in expanding security infrastructure is "totally crazy," said security researcher Markus Jakobsson, co-author of the book "Crimeware: Understanding New Attacks and Defenses."

"That's like a city closing its police department because there is a recession," said Jakobsson.

The recent surge in unemployment -- 533,000 U.S. jobs lost in November alone -- is expected to boost the ranks of hackers, as firings and prospects for layoffs make people desperate.

Underground software makers are also releasing increasingly easy-to-use programs that even hackers without much technical expertise can operate to take control of personal computers.

Such software, which can cost from $1,000 to $10,000, allows users to build armies of hundreds of thousands of hacked PCs that can be used to infiltrate corporate firewalls, send spam and accomplish identity theft, according to Mel Morris, chief executive of UK-based security firm Prevx Corp.



Read more: http://www.informationweek.com/news/security/attacks/showArticle.jhtml?articleID=212400207

[bemildred]

1. Damn, only rising 13% next year? That does sound like a big crisis, for them. nt

[ChromeFoundry]

2. Which is a bigger security risk...

Layoffs in your U.S. based IT staff security department

- or -

Making your data or intellectual property accessible in India or China?

[OhioChick]

3. My Thoughts Exactly. n/t

[amandabeech]

4. Security overseas is a big worry of mine, too. n/t

[MadMaddie]

5. It's so simple isn't it?

I have never figured out how these CEO's sell this point to the stockholders etc.....China and India are stealing our ingenuity and everyone thinks globalization is great for America....cause the labor is cheap. But the labor is not stupid and they are stealing our shit...and those that have been pushing offshoring US jobs are either ignorant, stupid or both.

[dysfunctional press]

7. "...those that have been pushing offshoring US jobs are either ignorant, stupid or both."

i think "greedy" has to be in there somewhere as well.

[ChromeFoundry]

8. The stakeholders only care about one thing. Short-term profits...

no one believes in building something viable to support future stable growth. Look at our financial institutions... do we really need any more proof than that?

[OhioChick]

9. Yep. You got it. n/t

[Azlady]

6. That was my first thought.... great, just great... geez.