Issue link: https://www.e-digitaleditions.com/i/72038
According to the Ponemon Institute's second annual Cost of Cybercrime Study, conducted with HP, cyberat- tacks are becoming more frequent, more sophisticated—and more costly: confidential health information is processed and stored. Students also should know about Safe Harbor, a protocol relating to international information security; Sarbanes- Oxley, a law requiring specific financial reporting practices; and Gramm-Leach-Bliley, a law that relates to the confidentiality of con- sumer information in banking. Articulate an existing informa- tion security plan to subordinates and promote security awareness among employees. Managers must actively and visibly discharge their information security responsibilities. Implement and monitor an information security plan and maintain compliance. Most organizations lack security poli- cies related to emerging social media, even though more of them are using the technology. Astute managers can quickly detect and address any threats and vulnerabili- ties to information assets that arise from technological advancements. Security Is Survival At WCU, we are excited about the future. Last fall, we installed a virtual computing lab to provide students with even more experience with computer systems. We will also look at security issues related to cloud computing. Recently, students in our infor- mation security class cooper- ated with the U.S. Department of Defense to conduct individual research studies, which will be com- piled into a monograph titled "The Strategic and Tactical Importance of Computer and Network Secu- rity." One student's contribution describes how easily someone with intermediate electronics knowledge can construct a scalable EMP (elec- ■ U.S. organizations lose an aver- age $5.9 million a year to cyber- crime—some lose as much as $36.5 million. That's a 56 percent increase from the institute's 2010 study. ■ Of today's attacks, 90 percent are caused by malicious code, denial of service, stolen devices, and Web-based attacks. ■ Each attack now takes 18 days to resolve and costs $416,000, on average—up from 14 days and $250,000 just last year. tromagnetic pulse) weapon inside a soft drink can. Such an inconspicu- ous device would discharge without noise and instantly destroy delicate computer devices and memory. Their research further highlights how crucial a role our graduates will play in securing the future of their organizations. We must make tomorrow's business leaders aware of their fiduciary responsibility to information assurance, and we must equip them with the core knowledge they'll need to protect digital processing infrastructures. We must implement interdisciplin- ary approaches to our students' digital education, including com- prehensive discussions that show how information security crosses departmental lines. Otherwise, we place all organizations—and their information—at risk. William Perry is a professor of computer information systems at Western Carolina University in Cullowhee, North Carolina. Perry also serves as an associate fellow for the Joint Special Operations University at MacDill Air Force Base in Florida and is an academic council member for the Cen- ter for Security Policy in Washington, D.C. Rutgers Business School Supply Chain Management Ranked #3 GARTNER SUPPLY CHAIN LEADERS • Over 30 full-time professors focus on end-to-end Supply Chain Management, research, teaching and collaboration with industry • World class research on sustainability, responsiveness and flexibility, and risk reduction • Executive Education Programs based on current industry trends and timely topics to help your business and career business.rutgers.edu/scm BizEd July/August 2012 41