Magazine : Archives : 2nd Quarter 2010

Are We Covered? 12 Critical Areas Directors Should Question

A breach in any of the following IT areas could cause catastrophic risk to the institution, but asking a few key questions ahead of time may save enormous headaches later on.An estimated 500 million records containing nonpublic personal information of U.S. residents were either lost or stolen within the last five years. In addition to data loss, IT threats include monetary loss, regulatory sanctions, and significant reputational damage. While few directors can be expected to be IT security experts, most can enhance their institution’s risk profile by asking a few insightful questions about the multiple security layers designed to ensure...