RONNIE L. WILLIAMS Despite increased awareness of cybercrime,
cyber-attacks continue to plague companies from Memphis to
Brussels to Subic Bay. Cyber attacks are typically defined as
criminal activities that are conducted by means of the Internet.
With more and more companies relying on the Internet to do
business, the frequency of cybercrime is certain to increase.
These technology-based attacks can include stealing an
organization’s intellectual property, gaining access to online
bank accounts, creating and distributing viruses, and posting
confidential business information on the Internet. A recent
survey by PricewaterhouseCoopers found that 38 percent of the
financial service firms surveyed have been hit by cybercrime of
one sort or another. Although the financial service industry may
experience a higher rate of cybercrime due to the nature of
their business, cybercrime is a real threat to other industries
as well. The financial impact of cybercrimes can be devastating
and the reputational damage may be r