Unforeseen Impact of the Economic Meltdown
“Without question, 2008 was an eventful year for major financial institutions, with massive losses, questions of solvency and, ultimately, government bailouts now totaling over a trillion dollars. The corporate fire sales, downsizing and mergers now commonplace in the financial industry are a cause for not only serious concern about the health of our economy, but also concerns relating to the security of personal and financial data.”
“With companies being sold and mergers taking place, and on such tight deadlines, mistakes regarding the confidentiality and privacy of the data are likely being made every day. Significant risk is increasing for personally identifiable information entrusted to these firms.”
See Unforeseen Impact of the Economic Meltdown, By Todd Waskelis and Bindu Sundaresan at Computerworld.com.
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For more insights on the issue of risk management as well as how it impacts business continuity, be sure to read A Risk Management Approach to Business Continuity: Aligning Business Continuity with Corporate Governance.
