Protecting Against Internal Fraud Threats

Lora Bentley

Despite government and industry organization emphasis on the importance of IT security to reduce corporate fraud, the levels of fraud will continue to increase in the next year, according to Security Park. The problem is growing because companies focus more on external threats when internal threats are more dangerous. And they're more dangerous in part because risks tied to employees are "moving targets," Logica UK's Tim Best says.

So what to do? Best suggests three key elements:

  • Increase visibility by controlling employee access rights. Employees should only be allowed access to those files and information that they use in their jobs.
  • Confirm that only authorized individuals are accessing given information using two-factor authentication.
  • Use digital signatures to prevent repudiation of documents and, when appropriate, to ensure that they have not been changed.

He points out that criminals will continue to devise new and creative ways to commit fraud and companies need to apply the same creativity and enthusiasm to their security policies and architecture.

Add Comment      Leave a comment on this blog post
Apr 3, 2008 5:11 AM Roger Roger  says:
Massive increase in fraud crimes should make the government and banks realise that their data protection and Chip and PIN systems are diverting rather than deterring fraud crimes. This shows that fraud will continue to grow until they exploit KEY and PIN system described on website which will deter BOTH identity and card fraud fraud by making signature and PIN systems reliable and foolproof. Fake documents have made our signature system unreliable while skimmers and pin-hole cameras etc. have made PIN system unreliable. We have option to make signatures reliable by personalising them with ID stickers and option to use Card Key Code to make PIN system reliable to make use of stolen and skimmed cards meaningless. By ignoring to exploit this system banks are only letting fraud crimes grow. ID KEY system will eliminate the need for us to protect our personal and card details since fraudsters will be deterred from misusing these stolen details. Proposed ID KEY can be treated as a reliable international ID card because it will personalise signature and PIN number to only the right individuals in any country.We hope that the government and banks will appreciate these details and exploit KEY and PIN system before it is too late to stop a fraud boom. Reply

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