PHILADELPHIA, PA, August 30, 2013 /24-7PressRelease/
-- As an international information executive and technology professional, Clive Haswell
knows the dangers that companies face every day from cyber crimes and attacks like system hacking. However, as a recent article
from the Economist explains, too many companies are too focused on determining exactly what cyber criminals are doing to them and not enough on how to fight or prevent them.
"If someone is shooting at you, you need to call the cops," explains Haswell. "The problem with cyber crime is that the cops may not have the tools to do their job. The modus operandi of the crime also typically transcends physical borders. So, even in countries with national agencies capable and willing to deal with online crime there remain many parts of the world outside their reach."
This, says the article, leads some companies to take a cyber-vigilante approach, trying to hack their hackers back. However, says Clive Haswell, this is not the answer that companies need, even though it may be tempting for those with deep pockets.
"On the other hand," says Haswell, "it is directly in the interests of all of us that the best tools and practices that support secure online transacting be disseminated globally - particularly into the developing markets."
For instance, Haswell explains, the banking world is addressing these cyber crimes with many progressive regulatory authorities in those markets linked with their legal and policing agencies. "The building of better capabilities in these legitimate agencies is the strategic solution to closing down international online crime and eventually saving us all some of the ballooning expense of individually isolated security systems," Clive Haswell explains. "This might well involve the adoption of active defense mechanisms, but carried out by law enforcement agents with whom industry would need to cooperate."
There may remain some governments and authorities resistant to a collaborative approach, however, as it would necessarily require them to give up some autonomy and becoming compliant to standards. "The proverbial carrot to bring people to the table," says Haswell, "should be an easier, faster and cheaper access to those markets and industry groups that have bought in - typically those in the more developed markets. Likewise the stick in this metaphor will be the raising of certain barriers to transacting there."
The history of trade finance as it has moved online is instructive, Haswell explains. Companies operating in well-governed parts of the world nowadays use online (and thereby faster and lower cost) methods of buying and selling goods between themselves internationally. Meanwhile, trading into and out of higher risk countries still involves huge amounts of paper document checking and the use of the more onerous and expensive "letter of credit" process.
As Clive Haswell argues, "We should build a consensus towards investing in state of the art (e.g. active defense) tools for international agencies - whether government- or industry-based - to act on our behalf against online criminals, and incrementally increase the scale and scope of those agencies."
Clive Haswell is the Chief Information Officer of Standard Chartered Bank, a leading organization in international banking with locations across Asia, Africa, and the Middle East. He got his career start as a software developer and technical programmer before working his way up the ladder to where he is today, leading a team of over one thousand professionals with a $12 million budget. Haswell is also directly responsible for the development and establishment of China's Bohai Bank, a joint investment venture that went on to become the first licensed bank in China since 1995. He also helped develop Standard Chartered Bank's HIV Awareness campaign and their blindness help campaign, Seeing is Believing.