Property destruction
Theft, loss, alteration, or dissemination of customer or other proprietary information
Defacing of Web pages or interference with customer or other relationships
Fraud losses from improper electronic signatures, unauthorized access, improper credit authorization
Interference in IT systems, such as denial-of-service attacks
Patent infringement, copyright, and other liability exposures from e-business operations
Financial damages from third parties relying on the financial institutions IT systems
Unauthorized alteration of software code
Unauthorized downloading and duplication of software programs
Potential Security Exposure Results
Uninsured expenses to replace lost physical assets
Loss of income from disrupted operations
Extra expenses to run substitute operations, such as restoring destroyed information, running backup facilities, settling lawsuits, or paying regulatory fines
Loss of customer and distributor good will
Bad publicity that damages the firms image
Lowered credit and solvency ratings
Insolvency in large loss situations where there are inadequate risk management controls
Source: LOMA
Reproduced from National Underwriter Life & Health/Financial Services Edition, September 2, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.
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