Presented by: Doug Jambor

Turner and Associates

Financial information company that provides credit and risk management solutions to financial institutions

Data and applications used by thousands of financial institutions and accounting firms across North America

Awards ◦ Named to Inc. 500 lit of fastest growing privately

held companies in the U.S.

◦ Named to Deloitte Technology Fast 500

Turner and Associates, Inc., was formed in 1994 in Columbus, Ohio to address the financial needs of small businesses and the lending functions of Banks.

Data Breaches ◦ Lessons Learned

◦ Key Takeaways

So, what are data breaches?

◦ Unintended disclosure of sensitive information

◦ Cyber Attacks

◦ Payment card fraud

Data breaches are also caused by:

◦ Malicious insiders

◦ Physical data loss

◦ Portable device loss

Lastly, data breaches could be caused by:

◦ Hardware loss

◦ Unknown data loss

History of the 10 largest data breaches:

1. Shanghai Roadway (March, 2012) 150 Million records

2. Heartland Payment Systems (January, 2009) 130 Million records

3. T.J. Maxx (January 2007) 94 Million Records

History of the 10 largest data breaches:

4. TRW / Sears Roebuck (June,1984) 90 Million records

5. Sony Corporation (April, 2011) 77 Million records

6. Unknown Company (August, 2008) 50 Million Records

History of the 10 largest data breaches:

7. Card Systems (June, 2005) 40 Million records

8. Tianya (December, 2011) 40 Million records

9. Steam On-line Gaming (November, 2011) 35 Million Records

History of the 10 largest data breaches:

10. SK Communications (July, 2011) 35 Million records

2011 was a game changer

◦ Four of the top

10 biggest data

breaches happened

this year

2011 was a game changer

◦ Hackivism come

through the doors

Larry Ponemon

2012 RSA

Conference in

San Francisco

Can we stop data breaches? ◦ No

What are the primary motives behind data breaches? ◦ Criminal element & $$$

◦ Verizon 2012 DBIR:

Who is behind data breaches? ◦ Verizon 2012

DBIR:

How do data breaches occur? ◦ Verizon 2012

DBIR:

What commonalities exist between data

breaches? ◦ Verizon 2012 DBIR:

Industry groups represented by percent of breaches ◦ Verizon 2012 DBIR:

Industry groups represented by percent of breaches ◦ Verizon 2012 DBIR:

Threat agents over time by percent of breaches ◦ Verizon

2012 DBIR:

Compromised assets by percent of breaches and records ◦ Verizon

2012 DBIR:

Timespan of events by percent of breaches ◦ Verizon

2012 DBIR:

So why are data breaches so damaging?

◦ They impact your organization’s bottom line

◦ Average cost is almost $18K per day

◦ All industries are susceptible data breaches

Average annualized cyber crime cost weighted by attack frequency ◦ Ponemon:

Percentage cost for external consequences ◦ Ponemon:

Responding to a data breach - percentage cost by internal activity centers ◦ Ponemon:

What should we consider prior to a data breach? ◦ Ensure you have developed and tested an Incident

Response Plan

Incident Response Plan

Step one ◦ Build a response team

Incident Response Plan

Step two ◦ Assign a lead/liaison

Incident Response Plan

Step three ◦ Ensure everyone knows their job tasks

Incident Response Plan

Step four ◦ Create the contact list

Incident Response Plan

Step five ◦ Create a checklist

Incident Response Plan

Step six ◦ Document the entire process

Incident Response Plan

Step seven ◦ Notify customers

How do you limit your exposure to a data breach? ◦ Perform due diligence on pen testers, internal

auditors, and critical vendors

How do you limit your exposure to a data breach? ◦ Read penetration test EL

How do you limit your exposure to a data breach? ◦ Smaller institutions

How do you limit your exposure to a data breach? ◦ Perform gap analysis of the SANS 20 Critical

Security Controls

How do you limit your exposure to a data breach? ◦ If you see bad behavior, call it out

How do you limit your exposure to a data breach? ◦ Invest in security

Data breaches described in today’s webinar have been publicly reported and easily available over the Internet.

Major Sources include: ◦ http://www.ponemon.org

◦ http://datalossdb.org/

◦ https://www.privacyrights.org/

◦ http://www.databreaches.net/

◦ http://www.ftc.gov/

◦ Verizon 2012 Data Breach Investigations Report

Website: www.sageworksinc.com

Phone: (919)-851-7474 ext. 693

Helpful links and resources: ◦ www.sageworksanalyst.com/resources.aspx

◦ web.sageworksinc.com/bank-webinars/

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