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Validian: Validian Helping Organizations Combat Cyber Crime

^{Published on 2009-07-15 05:11:36, Last Modified on 2009-07-15 05:11:43 - Market Wire}
 

OTTAWA--(Marketwire - July 15, 2009) - Validian Corporation (OTCBB: [ VLDI ]), a leader in the protection of digital assets, outlined its approach to protecting sensitive information and high value intellectual property from cyber-crime today.

"Cyber-crime is a major problem today," said Bruce Benn, CEO of Validian. "Not only can pirated digital properties, stolen customer information, and privacy infractions cause significant business losses but they can also have effects such as reduced competitiveness and protracted litigation that are long-lasting. Further compounding the matter, cleaning up after the breaches have occurred can sometimes be as expensive as the breach itself and also contributes to the additional costs borne by the cyber-crime victim."

With much of the information that is created, manipulated and stored as part of every-day activity and many of the products that are bought, distributed and paid for now in electronic form, the digital representation of the information asset increasingly embodies both significant monetary value and business relevance for its owners. Digital information is now where the value is, including movies, music, sensitive Government and business information, and confidential medical records.

Cyber-crime a growing problem

According to estimates from a recent survey of worldwide CIOs (McAfee), the economic losses associated with cyber-crime exceeded $1 Trillion in 2008. These losses stem from such incidents as the theft of credit card information, the piracy of entertainment media, the unwanted disclosure of private or confidential data, the malicious distribution of trade secrets by former employees, and the reparations necessary to minimize the effects of these breaches.

Despite these losses and the significant investments in point solutions and perimeter security, the vulnerability remains. With each successive introduction of these security technologies, protection has been improved. However, hackers merely have shifted their attention to vulnerabilities that exist in other areas and there continues to be an increasing stream of incidents relating to hacking, online theft, piracy and unwanted disclosure.

Clearly, the solutions employed today are not sufficient to protect the value and confidentiality of digital assets.

For the full release please follow this link: [ http://www.jgprimenews.com/news_item-244.html ]