Over the last several years, corporate data breaches have been regularly splashed across the front pages of the nation’s newspapers, causing nightmares for corporate executives. Ever-increasing digitization in areas such as business, banking and accounting has led multinationals to collect and retain inestimable quantities of personal information about employees, customers and counterparties.[FOOTNOTE 1]
The negligent (or even innocent) loss of electronic data to cybercriminals inflicts billions of dollars of damage on our economy, as personal information has become a sought-after treasure trove for cybercriminals.[FOOTNOTE 2] In fact, recent reports note that the number of attacks on credit and debit card processing systems has more than doubled from 2006 to 2007, and that trend appears to be continuing into 2008.[FOOTNOTE 3]
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