Softbank theft of consumer data -information security, Computer Network Security

Example : Softbank – theft of consumer data for extortion

Softbank of Japan offers broadband Internet services across Japan through 2 subsidiaries – Yahoo! BB and Softbank BB. In the year 2004, the bank announced that the security of 4.5 million customer records which had been compromised: data from both subsidiaries had been illegally copied and disseminated. The leaked details included home phone numbers, customer names, addresses and email IDs, but did not involve passwords, access logs and credit card details.
Softbank became aware of problem only when they were approached by 2 groups of extortionists. The criminals produced genuine customer data and threatened that all of the data would be posted to Internet if they were not paid a large amount of money.

Japanese police made 3 arrests but suspected that there may have been connections to prearranged crime and the political far right. Astonishingly, the police concluded that there had in fact been 2 simultaneous, yet independent, extortion tries against Softbank, they masterminded by employees of the company. All of the people who were accused of extortion had been authorized to access the customer data; but it seemed that Softbank had inadequate procedures to protect against unwarranted copying and dissemination.

The bank immediately announced making strict policies of security, further restricting access to their systems and enforcing strict security on all of their subsidiaries. Profuse apologies were offered to affect the customers and ¥4 billion were paid in compensation. Further, Softbank BB’s president, Masayoshi Son, announced that other senior executives would take a 50 % pay cut for the next 6 months.

In this instance, the threat was to reduce the value of an organization by revealing information which should have been a well kept secret scarce within as well as scarce without. It cost company £20 million in compensation and affected the reputation of it.

Posted Date: 10/8/2012 4:33:52 AM | Location : United States







Related Discussions:- Softbank theft of consumer data -information security, Assignment Help, Ask Question on Softbank theft of consumer data -information security, Get Answer, Expert's Help, Softbank theft of consumer data -information security Discussions

Write discussion on Softbank theft of consumer data -information security
Your posts are moderated
Related Questions
Spambot Detection: The  previous studies in this field  have focused on content and meta-content based features.  The main assumption in this area of spam detection of late is

What questions should Iris ask Charlie about the new job, about Kelvin''s team, and about the future of the company?

Question 1: (a) Differentiate between symmetric and asymmetric encryption system. (b) Describe how a digital signature is created. (c) Explain briefly what SSL (secure so

WFABilling project in Java:  Project Title: WFABilling   Role                      : Developer Domain                 : Tele-Com Environment          : Java, J2EE, S

THREADS AND ATTACKS Threat is an object, person, or other entity which represents a constant danger to an asset. To make sound decisions about information security, management s

Question : (a) What is an IDS and what is the basic problem it faces which can be solved by Artificial Intelligence. (b) Identify and describe briefly an Artificial Intell

Question: (a) Describe how IPSec provides data source authentication. (b) Which protocol can be used to provide limited traffic analysis confidentiality? Why is it "limite

QUESTION (a) Briefly explain the contents of the Needs Analysis, which is step in the process of network design. (b) Describe on the three ways of improving the performan

TRANSPORT PROTOCOLS: Give application-to-application communication. Require extended addressing mechanisms to check applications. Are known end-to-end communicatio

(a) Describe the concept of zero knowledge proofs. Give a practical example. (b) Explain how a one way hash function works. (c) What are message authentication codes? (d)