In 2015, a British University presented findings on the cost of fraud and losses to society as a whole. What they found was very revealing – the annual cost of fraud equates to almost 6% of global GDP. Considering that the IMF projected 2015 global GDP to be around USD 73,5 billion, we’re talking billions of lost dollars, annually. And if that isn’t enough, according to PwC the financial sector suffers from more economic crime than any other industry. The upshot of this is that financial institutions have to have more effective procedures in place than any other industry if they are to reduce losses due to fraud.
Governments are not renowned for their quick decision-making processes, particularly when multi-lateral collaboration is required. But, since my blog on Safe Harbor – or rather the collapse of it – was published in December, a new international framework has been agreed on regarding transatlantic data flows. It seems the government was hard at work over the holidays.
Last year, in the ABAC Factor, we shared information compiled by Accenture on the burden of compliance. This report states that there are thousands of new regulatory announcements every year*, and over 14,000 in 2011 alone. But every now and then a game changer comes along and everybody takes notice. 2015 is proving to be no exception, with the ruling by the European Court of Justice that Safe Harbor is no longer valid.
We’ve given our blog a facelift and we’re excited you’re here to check it out. Basically, it’s more fine-grained now – which is befitting of a company like ours that develops leading fine-grained access control solutions.
You’ll now find two main categories: business blogs and tech blogs. If the headline is in blue you’re reading a business-oriented blog, and if it’s orange it’s more technical. However many of our blog posts will appeal to security professionals regardless of the category.
As well as viewing blogs by category, you can also choose topics or drill in using the search function. We are also profiling our bloggers so you can find out more about them and follow your favorites.