Latest Special Reports News

Corporates will have to invest in data protection if they do not want to face huge fines
posted on 14/12/2011

The European Commission is planning to impose fines of up to five per cent of global turnover on errant companies losing private data. Varonis advise major companies to invest in the necessary data protection before it is too late. David Gibson, director of technical services with the unstructured data security specialist, says that the changes to EU data protection legislation – which will reportedly be announced tomorrow - are long overdue. “We’re already seeing the UK regulator, the ICO, imposing its first major fines on public sector bodies, so it’s clear there is a wind of change in the air. And with penalties of five per cent of global turnover – rather like serious motoring offences, the advice has to be to shape up, or face the consequences,” he said. “Because they are based on turnover, these penalties have the capacity to wipe out a corporate’s global profits for the year and that makes the topic of data protection a top boardroom topic, if it were not one before,” he ad... [more]

Reliance Foundry's decorative security bollards prevent smash-and grab attempts at Vancouver retailer
posted on 10/06/2010

A recent "smash-and grab" attempt at a Vancouver-area retailer caused thousands of dollars in damage to a local storefront, highlighting the need for improved perimeter security. The company turned to Reliance Foundry for decorative security bollards that will prevent a vehicle from being driven directly into the front of the store again. Thanks to Reliance Foundry, a local Future Shop, one of Canada's Best Buy subsidiaries, can avoid "smash-and-grab" burglaries. Thieves intent on acquiring electronics in Surrey, British Columbia, recently tried a frontal assault. Despite the certainty of an alarm system, they attempted a smash-and-grab, backing a stolen pickup truck up a flight of stairs and through the store's front doors at 2 a.m. Though they fled as police sirens converged, they came close to success – the truck bed was full of store products. While it didn't lose inventory, the store suffered over $100,000 in damages, and was forced to operate through an unattractive plywood entr... [more]

UK security market set for a prolonged period of consolidation
posted on 10/08/2009

As many as one in seven companies in the UK Security industry could change ownership as a result of the current economic climate, claims a new study by financial analysts Plimsoll. With a surprising number of “cash rich” competitors waiting in the wings, the market could be set for a prolonged period of consolidation. David Pattison, author of the new Plimsoll Industry Analysis – Security, explains, “I am sure any director worth his salt would agree that, in the current climate, there are simply too many companies chasing too little market. With many directors eyeing the exit doors and highly leveraged buyouts consigned to history for the time being, it really is a buyers market out there for cash rich companies” Pattison continues, “In the Plimsoll Industry Analysis we have identified 196 companies that have a sizeable cash reserve sat on their balance sheets that, due to record low interest rates, is generating nothing. One company has a £42 million cash pot; a whopping 80% of turno... [more]

Operational performance benefits are unlocked by leveraging OpRisk controls and reporting data
posted on 06/03/2009

Global financial institutions are beginning to view operational risk (OpRisk) as a means of providing a more proactive management decision-making framework, as opposed to seeing it purely as compliance and reporting function. This is according to the latest report by independent market analyst Datamonitor, “From Compliance to Improved Business Performance Through Operational Risk Management (ORM).” The report says operational performance benefits are being unlocked by leveraging OpRisk controls and reporting data, and expects IT to play a key role in facilitating ORM through process monitoring, and the automating of reporting. “Against the backdrop of well publicized instances of fraud, wider systematic risks and compliance changes post-crisis – it is certain that there will be more stringent reporting requirements. In addition, regulators will become more prescriptive with management involvement in monitoring ongoing operations, as opposed to solely periodic reporting. Financial ... [more]

How technology can help combat Financial Crime in retail banking
posted on 21/01/2009

The increasing amount of overlap and duplication of data, tasks and processes in their anti-fraud and anti-money laundering divisions is driving banks to seek synergies between compliance, risk management and security. A new report "Using Technology to Combat Financial Crime in Retail Banking" looks at the regulatory requirements and growing exposure to risk that drive the adoption of anti-financial crime application and strategies. It provides insight into potentially emerging threats, and the increasing cost pressures that affect the anti-financial crime area. The technology and vendor landscape section offers an in-depth insight into the overall AML and anti-fraud architecture. The go-to-market section provides the necessary intelligence for vendors to formulate their marketing strategy. The ongoing development of the digital economy brings with it unwanted side effects. The lack of counter-measures to unintended uses of new payment methods, customer data theft and a growing cyb... [more]

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