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Outsourcing Internet security to manage risk

By Spindel, Brian M
Publication: Directors & Trustees Digest
Date: Monday, July 1 2002

With ever-increasing online threats to community banks-- such as additional software vulnerabilities announced almost daily, an evolving and growing ,threat from hackers, and other dangers such as terrorism--boards of directors should examine the bank's strategies for keeping their organization and

their customer's personal information safe.

More than ever before, community banks are vulnerable to electronic intrusion, according to a recent study by SecurePipe Inc., an ACB Partner that offers affordable managed security solutions to financial institutions. Also, bank managers and directors are now more accountable. The banking regulators are increasingly guiding financial institutions on how to best protect their information assets, and have raised the management of technology to the corporate governance level.

Facing the high costs of round-the-clock staffing and the general shortage of qualified security experts, many community banks outsource Internet security. Because of the economies of scale involved, vendors such as SecurePipe can often offer better risk awareness and protection than an in-house approach. For more information, see www.securepipe.com, e-mail info@securepipe.com or call 1-877-248-1632.

AUTHOR_AFFILIATION

Contributed by Brian M. Spindel, CPA, CIA, CISA, Security Auditor/Regulatory Liaison at SecurePipe Inc., an ACB Partner.

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