The findings from FTI Consulting’s recently released “Law in the Boardroom” survey of directors and general counsels are predictable but unsettling nonetheless. When asked what issues keep them up nights, respondents—all from the legal profession— cited data security more than any other concern.
In truth, it’s hard to imagine how network breaches and data theft wouldn’t be at the top of anybody’s list of corporate nightmares. The damages from such incidents are escalating and the incidents themselves are happening with greater frequency. Many companies are struggling to find solutions to this threat.
For instance, following a string of retailer breaches during the past year, the medical community was hit recently when Community Health Systems (CHS)—one of the nation’s largest operators of general acute care hospitals—lost HIPAA-protected information for approximately 4.5 million patients to hackers. On Monday, Aug. 18, the organization filed papers with the SEC saying that the intruding group—who CHS believes is based in China—“used highly sophisticated malware and technology to attack the company’s systems” and “was able to bypass the company’s security measures and successfully copy and transfer certain data outside the company.”
Considering the potential fines, the cost of providing credit monitoring to those affected and the public embarrassment, CHS has a huge mess on its hands. Patients who had records stolen are now at increased risk of identity theft; additionally, they have suffered a major invasion of privacy.
What these crippling breaches continue to make clear is network monitoring and forensics solutions are now essential to information security. Unfortunately, with hackers being trained all over the world, information theft and breach attempts are going to continue. The only question is how prepared your company will be to offset these risks.
View our upcoming webinar Security Attack Analysis – Finding and Stopping Network Attacks to learn more.