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
In this work a network intrusion system (package) must implement based on high interaction honeypots. There are two honeypots with different platforms (ubuntu and windows server 20

Consider a computer system with three users: Alice, Bob and Cindy. Alice owns the file alicerc, and Bob and Cindy can read it. Cindy can read and write the file bobrc, which Bob ow

Question: Human telephone conversations are characterized by irregular pauses, alternating with irregular bursts of speech. In contrast, communication via computers is char

QUESTION (a) Describe the difference between static routing and dynamic routing algorithms. (b) List four functions that are performed by the Cisco IOS software during b

Problem: (a) What is the minimum length of a password that could be considered to be "strong" in the context of today's computing power? (b) The security of a PIN system,

QUESTION (a) Describe the role of DNS root servers in the Internet network. (b) What do you understand by the handover concept in a mobile network? (c) List five meth

what is the guaranteed quality of this coursework? how many days it take for 10-12 pages? how much will be? thanks

Risk Control Strategies Once the ranked vulnerability risk worksheet has created, they should choose one of following 4 strategies to control each risk: •Apply safeguards which

SECURITY ANALYSIS Overview •    Know yourself: examine, identify, and understand the information and systems which are currently in place •    Know the enemy: examine, identify,

In broadcast topology there are further two types 1) SATELLITE\RADIO 2) RING TOPOLOGY In a radio or satellite topology every computers are connected to each other via radio o