Security Risk Assessment and Electronic Commerce: A Cross-Industry Analysis

Abstract

The security issue has been a compelling one for many organizations. In two separate studies completed in April 1998, Fortune 1000 companies reported more financial losses due to computer vandalism and espionage in 1997 than they ever experienced before. Several corporations said they lost $10 million or more in a single break-in. And reports of system break-ins at the Computer Emergency Response Team site are the highest they’ve ever been. Management objectives for security reflect the individual organization’s situation. However, there are several common themes in the objectives for security: • Safeguarding the organization’s assets and resources. • Complying with policies, procedures, laws, and regulations. • Utilizing resources economically and efficiently. • Ensuring the reliability and integrity of information.