Regional e-business expert outlines the future of businesses e-security

Addressing 'The Future of E-Business' conference today held by Abu Dhabi Men's College as part of its bi-annual program of business conferences, Habib revealed reported losses due to computer crimes reached about US$ 202 million in 2002, with sources of attacks originating primarily from independent hackers, disgruntled employees, foreign governments, foreign corporations and local competitors.

"The Internet is the most vulnerable point, in addition to the remote dial-In and internal systems to varying degrees. Some of the common computer crimes include the theft of proprietary information, denial of service attacks, financial fraud and viruses," said Habib.

"Risks to electronic business cannot be eliminated. They only have to be minimized. There is no single security solution that provides blanket protection to e-business. Every security solution provides incremental protection against threats. While e-security is more of a process, e-business practices must evolve to deliver a secure technological environment to maintain and enhance users' trust," explained Habib.

"Without e-security, organizations and countries face both limited adoption of Internet and missing out on the prosperity of the new economy. With the evolution of technology, organizations must take steps to understand the related risks, and should ensure that cyber defense processes and controls are updated to meet evolving needs. E-security is all about managing risks and maximizing benefits in the e-era," concluded Habib.