Feeds

Risk managers run scared of online cockups

The buck stops somewhere over there

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Companies are frightened about the risk to their reputations when they embark on e-commerce projects.

A survey of risk managers at the annual conference of the Association of Insurance and Risk Managers (Airmic) also found unearthed concerns that it's difficult to get adequate insurance cover.

The Financial Times reports that half the risk managers quizzed said their firms used a separate brand name for their ebusiness ventures, in a move that could be seen as distancing a parent company from any online cockups its dot com arm might make.

Key risks in doing business online were identified as damage to reputations, fraud and intellectual property losses. Risk manager said that neither end users nor business managers understood these issues, and many wanted to see tougher ecommerce laws.

The main potential risks from e-commerce, Airmic members believe, are loss of reputation, fraud and intellectual property loss. Intellectual property and reputation loss were also the most difficult areas in which to obtain insurance cover which rather goes against the trend of more managed services firm offering 'hacker insurance', but there you go.

Three quarters of risk managers who responded to the survey said that neither employee-users nor management boards understood the risks associated with e-commerce.

David Audrey-Jones, head of security strategy at KPMG, backed up the findings of the survey that business managers were frightened of security, and delegated it to techie staff.

He said that this attitude was wrong, and boards need to take responsibility for security because it was an enabler for more efficient and profitable business. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.