Sunday, July 26, 2009

This Time Its Network Solutions Reporting a Data Breach

For a long time, various well known companies have been the target of hackers. This has resulted in huge data losses for the company as well as the client's that are associated with the company. Many companies have faced several financial charges by the government or by business partners to satisfy penalty fees.

Network Solutions, which specializes in the domain name registration industry, has recently reported an incident of a breach of data. The breach occurred during March 12 to June 8 2009 and was detected in a check carried out by the company. Though this breach was detected in June, the company took around a month's time to decipher the code that was used in hacking the domain. By that time the hackers had hacked their e-commerce services and had already diverted the transaction details of more than 500,000 registered companies. This shows that industries are still lacking in security measures to prevent the loss of important data.

Network Solutions company issued a statement saying that till now no incidence reporting misuse of information has been reported by any merchant company. The company is now enlisting all those merchant clients' who had made any transaction in between that period. These clients will in turn notify their customers who will then inform their banks to block the credit cards to avoid any misuse.

Network Solutions has offered to bear all the expenses that the customers have suffered. But isn't it more correct to take a few precautionary measures beforehand than facing such incidents? Data loss prevention and a network security assessment are the best tools available for the security assessment of any website and it also helps in avoiding such incidents.

There have been many such companies reporting breaches in the past that have resulted in the bad reputation of those companies. Heartland Payment Systems and RBS WorldPay are a few examples of such breaches. Both these companies had been removed from the Payment Card Industry Data Security Standard (PCI Audit) services' list. The loss of clients and market value was an additional issue.

These incidents indicate that various other similar companies are exposed to such risks. But if they take certain measures to keep their network system in check, they can surely avoid experiencing these kinds of losses. This also ensures the goodwill of the company in the market thereby attracting more clients.

An expert with knowledge of Information Security Risk Assessment has written this article.

Gary Bahadur
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