Survey Roundup: IoT Brings New Risk Concerns for Firms – U.S. – Wall Street Journal (blog)


August 28, 2016 Facebook Twitter LinkedIn Google+ Uncategorized


A look at some recent surveys and reports dealing with risk and compliance issues. Send surveys and reports to wsjrisk@wsj.com.

IoT Blind Spots: A survey by digital security and compliance services firm Tripwire found 30% said their organizations are prepared for the security risks associated with internet of things (IoT) devices, while 34% said they believe their organizations accurately track the number of IoT devices on their networks. The survey of around 220 information security professionals who attended the Black Hat USA conference found 78% said they’re concerned about the weaponization of IoT devices for use in distributed denial-of-service attacks.

“The internet of things presents a clear weak spot for an increasing number of information security organizations,” said Tim Erlin, senior director of IT security and risk strategy for Tripwire. “By ensuring these devices are securely configured, patched for vulnerabilities and being monitored consistently, we will go a long way in limiting the risks introduced.”

Get Smart: Increased use of artificial intelligence could mitigate some pressure on financial institutions facing regulatory oversight of their know-your-customer and anti-money laundering programs, according to a report by technology analyst firm Celent and risk and compliance technology company NextAngles.

Eyes On Cyber: A survey of 500 executives at mid-sized companies by Deloitte found 36% identified the managing of cybersecurity and information risk as their top technology priority. Deloitte is the sponsor of Risk & Compliance Journal.

AML Wakeup Call: A report from PwC looks at what companies should be doing in the wake of the Financial Crimes Enforcement Network (FinCEN) fine of an introducing broker for unreasonably relying on an affiliated clearing broker to fulfill certain anti-money laundering responsibilities.

Cuba Concerns: A report from compliance and investigations firm Steele looks at what companies looking to enter the Cuba market need to be aware of to avoid problems with anti-bribery and anti-corruption rules.

China Regulations: A survey of the members of the U.S.-China Business Council found 67% cited the country’s policy and regulatory environment as the top issue affecting their five-year outlook for China, which is its lowest level in a decade.

Cyberexpensive: A report from global information security advisory firm Herjavec Group predicts cybercrime will cost the world in excess of $6 trillion annually by 2021.

DDoS Rising: The number of distributed denial-of-service attacks increased 211% between April 1, 2015, and March 31, 2016, according to a DDoS threat landscape report from website security company Imperva.

Write to Ben DiPietro at ben.dipietro@dowjones.com, and follow him on Twitter @BenDiPietro1.

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