The Sony Hack Wake-up Call
The late Victor Kiam—CEO of Remington shavers—was a client of mine. A favorite expression of his was "cheapsy-weepsy."
Cheapsy-weepsy describes corporate America.
6 Snippets From My Private Archive of 80,000 News Items
- Why New Credit Cards May Fall Short on Fraud Control
Big U.S. banks are steering clear of an advanced security measure used in credit cards around the world, opting for a system that is more convenient for shoppers but may leave them vulnerable to fraud.
- JP Morgan Chase Bank has revealed that 76 million household accounts, along with 7 million business accounts, were compromised in a recent cyber-attack. —Oct. 3, 2014
- Americans may soon be hearing some shocking news as retail giant Home Depot Inc. has reportedly been linked to a "massive" loss of customer data to hackers operating out of Russia and Eastern Europe. According to initial reports the breach may involve the theft of over 40 million credit cards, stolen using point-of-sale (PoS) malware deployed across most of the retailer's 2,200 U.S. stores. —Sept. 2, 2014
- The malware installed on terminals in Neiman Marcus stores seems to be the same malware that infiltrated Target's systems and exposed information from as many as 110 million customers. —Jan. 23, 2014
- Target, the second-largest U.S. discount chain, said yesterday that data for about 40 million debit and credit cards may have been wrongfully accessed. —Dec. 20, 2013
- AntiSec hacker group claims it has in its possession over 12,000,000 Apple iOS Unique Device IDs, as well as other personal info from device owners. To prove it, it has released 1,000,001 UDIDs to the public. —Sept. 4, 2012
Add up those numbers.
In these six data invasions, 282 million cardholders—88 percent of the U.S. population—are at huge risk as our most private financial and personal information has been stolen and on the market.
My opinion: greedy CEOs whose organizations are entrusted with our actionable data—and then allow thieves to steal it—should go to jail along with the thieves.
I'm not talking pieces of paper.
I'm talking jail time for James Dimon (JPMorgan); Craig Menear (Home Depot); Karen Katz (Neiman Marcus); Gregg Steinhafel (former CEO, Target); and Tim Cook (Apple).
Only when prison stripes replace pinstripes will the nabobs of corporate America be scared so witless and they'll stop treating their customers like dog turds.
Where to Start: CEOs, Instead of Giving (and Taking) Bonuses, INVEST!
The Home Depot story above describes how information was "stolen using point-of-sale (PoS) malware deployed across most of the retailer's 2,200 U.S. stores."
Invest in chip (not cheap) technology.
While Europe, Canada and Mexico have had chipped cards for years—usually with a chip and a PIN (personal identification number), the U.S. card issuers have studiously avoided the more secure, but more expensive, cards.
As other countries went to chip and PIN cards and the U.S. continued to rely on a less secure magnetic stripe, the predictable occurred. —Tom Groenfeldt, Forbes
In Other Words, INVEST!
Just as federal and local governments need to invest in infrastructure—highways, rails, port facilities, air terminals and 66,000 structurally deficient bridges—corporate America must invest in itself.
Now to the Great Sony Hack
It's finally out in the open.
Hackers can steal secrets and exploit the entire workings of companies—from personal data of employees, suppliers and customers down to snarky and embarrassing email exchanges at every level.
We are all at risk.
Takeaways to Consider
- The catastrophes above are the digital versions of Pearl Harbor and 9/11—the result of cheapsy-weepsy practices.
- The difference: these attacks are silent but deadly.
- Not as fluorescent. No rows of bloodied baby bodies and bombed out buildings.
- Just wrecked lives and businesses.
- "The computer is a moron." —Peter Drucker
- So are the dweebs in charge of computers.
- And especially the sleazy hierarchy they work for.
- "The Internet is still largely held together with Band-Aid fixes." —Nicole Perlroth, The New York Times
- Think be very careful what you say in your corporate email. You could find yourself being mocked all over the world and your career in tatters.
- Invest. Invest. Invest in your business.
Denny's new book is WRITE EVERYTHING RIGHT!
Halfway through "Write Everything Right!" Loving it! Would love to see it as a standard text for every high school writing class. Why don't we teach kids anything about the real world? —Tim Orr
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