CIO Survey

Securing company information

Are companies too complacent when it comes to cyber security?

01 March 2012

The R42-million Postbank heist that delivered a very merry New Year for its perpetrators has refocussed attention on IT security.

A stuff -up of such monumental proportions proved the bank’s cyber security was inadequate, allowing a syndicate to withdraw vast amounts of cash from ATM machines for three days running. An unnamed banking security expert told the Sunday Times: “The Postbank network and security systems are shocking and in desperate need of an overhaul. The intrusion detection systems on its servers were obviously not working properly.”

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