In the last few years there has been an increasing hype regarding cloud-based offerings, from outsourcing the office file or mail server to powering entire complex web sites, collaboration and outsourcing of voice over IP, CRM, and even providing off-site backup services. The term cloud has come to mean just about anything not on your local network. The broadening definition combined with the reduction of reliability, security and accountability is a troubling trend, to say the least.
Data breaches grace the headlines at least once a week these days. Companies whose sensitive information has been compromised by unauthorized parties on a massive scale. Many of them suffering from irreparable financial and reputation damage.
The Internet of Things is (IoT) is the concept of many different devices which connect together to bring about a richer online experience. These items include routers, automation systems, Internet telephony, security cameras, file sharing network drives and other network appliance devices.
In April, 2015, The SEC issued cybersecurity guidelines for money managers and investment advisers. These guidelines provided best practices for mitigating information leakage risks and improving data security. Too often many smaller investment houses may not have knowlegeable staff to implement these SEC best practices.
New requirements for merchants will cause a significant shift in business liability for certain types of credit card fraud. But many business owners are not ready and even more have not heard about this change in payment processing.