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by topkai22 4147 days ago
While this is an astonishingly large criminal heist, we should look at this from a business perspective. The largest take from a single bank sounds to be around $10M. The first russian bank I could find in Wikipedia, Alfa-Bank, had a net income in 2010 of $550M, meaning that if they were the ones hacked they would have lost about 2% of their annual PROFIT. What would be the capital, operational, and efficiency cost of a major security overhaul be? Probably more than $10M. Moving to a new system like qubes or even a more standard desktop Linux variant could very well terrorize me more than the losses from hacking.

Lots of industries just live with a certain degree of loss- retail in particular sees about 1.8% of inventory lost due to "shrinkage", the polite term for shoplifting and employee theft. While stores will take steps to reduce their loss, they can't be extravagant or they will lose customers (I stopped shopping at a drug store that put deodorant behind plexiglass) or cost more than the problem (rfid trackers on every candybar.)

Given that perspective I think we as technical professionals need to be a little more restrained in our recommendations. Enterprise decision makers are very receptive right now to projects involving security due to hacks like this and Sony, but we as technical professionals still have to speak to the whole of their concerns.

1 comments

Doing nothing is always a valid business option... not usually a wise one, but always a valid one.
Agreed, I'm not saying these bank CIOs should do nothing, just trying to point out the break even point between security and other factors can come sooner than we as technical people might assume.