The Economic Considerations Of Information Security And Its Management - Essay Example

However, the people who could care for a system were not the ones who suffered the costs of break down. This scenario can be explained with the help of some examples. Well structured billing-management features for the administrators who offered them, but were not so excellent at protecting customer’s privacy. For instance, automatic teller machines gone through under fraud in a lot of developed countries like the Netherlands and United Kingdom, where deprived rules and regulations left banks without enough encouragement to protect their information systems, and allowed them to pay the charges of fraud to their customers.

In this scenario, the internet is acknowledged as an insecure medium due to the fact that its liability for attacks is so diffuse. In all of these cases, the technical considerations of security are less important than the economic considerations (Anderson & Schneier, 2008), (NIST, 2010) and (Anderson & Moore, 2007). In this scenario, to implement a solution to this problem there is need to think about following questions like “do we need to spend an adequate amount of funds keeping viruses, attacks and hackers out of our corporate computer systems?

Or do we pay out too much for overall security management? Seeing that after the incident of 9/11, this kind of questions has gained a heightened significance. In this scenario, the economics can depict a lot of puzzling realities regarding internet security. For example, organizations implement email encryption and firewalls not due to the relative efficiency of these technologies, however due to the economic forces that force corporations to install these tools on their systems (Anderson & Schneier, 2008), (NIST, 2010) and (Anderson & Moore, 2007).

At the present, organizations hardly ever make public information concerning interruptions due to the economic reasons in doing so. For instance, an un-protected operating system is an international standard, partially for the reason that its financial results are mostly shown not by the corporation that built the operating system, however by the clients who bought it and used it. Furthermore, a number of major controversial cyber-policy matters also exist between information security and economics (Anderson & Schneier, 2008), (NIST, 2010) and (Anderson & Moore, 2007).

Economic theory forecasted that the worldwide recession will certainly augment the amount of cyber crimes as the financial recession deepens. There could be a lot of reasons of cyber crime such as an increase in security breaches and hit on more vulnerable and frantic people from those with cyber skills and cyber criminal position for desired income; and a reduced focus on investment in computer security as a result of fewer resources. According to the various researches, the assets of United States households have reduced up to approximately $1.

4 trillion; consequently the whole sum of money available to steal has reduced. However, this connection and causation are tremendously hard to demonstrate conclusively. In this scenario, it could be concluded that the cyber crime has been growing at very high rate for the reason that there are less difficulties for the criminals to perform their activities and almost no risk of being trapped and accused. However, this is apart from of the circumstance of the global economy. Despite the fact that appearing at the difficulty of workers of the growing marketplaces, this can be concluded that the financial situation of these nations has been significantly condensed with less hope of development of their condition, cyber crime prospects and thus the number of workers will increase (Guerra, 2009) and (Schneier, 2006). Possibly,