ecommerce expo 2011 - security needs to be based on the risks of your business says Ernst & Young
Companies need to apply the same risk management techniques applied to other parts of their businesses to growing cybercrime, experts at Ernst & Young have warned.
Ernst & Young, which offers a full fraud and risk management service to clients in all sectors, claims that despite the growing profile of cybercrime, most companies engaging in ecommerce are still burying their heads in the sand. Firms are also not dealing with emerging problems in the most effective and appropriate way for their business –or at the right level.
Nicolas Mallison Director of Ernst & Young’s Forensic Data Analytics says: “When a bricks and mortar vendor opens a new store, it would consider the necessary security based upon a number of factors such as type of business and location. Businesses should do the same when they open their cyber doors. Companies are all vulnerable in different ways and those risks needs to be addressed to prevent serious financial and reputational harm.”