Cost of cyber crime study shows need for security planning, says ISACA

Global IT security association ISACA has welcomed the findings of the Ponemon Institute's latest Cost of Cybercrime report.

Global IT security association ISACA has welcomed the finding of the Ponemon Institute's latest Cost of Cybercrime report, that organisations are increasing investment in security forensics and detection methodologies.

According to the Ponemon report, early-detection security technologies can help reduce attacks costs by 25%.

"This strengthens our on-oing commitment at ISACA to educate business professionals on the need for security planning and, by implication, enterprise governance of IT," says Rolf von Roessing of ISACA's COBIT Security Task Force.

With nearly 100,000 members, he says the not-for-profit information security, assurance and governance association is well placed to provide the education required to improve the governance, risk management and compliance requirements that the Ponemon report identifies as being central to reducing the cost of cyber crime.

These issues are central to ISACA's COBIT framework, which Von Roessing says enables managers to bridge the gap among control requirements, value creation, technical issues and business risks in their organisation.

One of the framework's main benefits, he says, is that it provides up-to-date thinking in enterprise governance and security management.

Enterprises of all sizes around the world use COBIT to help manage their IT-related risks and increase their levels of confidence in the information.

COBIT supports the development of clear policies and good practice for management, and the Ponemon report confirms the need for networking intelligence, security event management, governance, risk management and compliance, says Von Roessing.

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