There is always a potential risk associated with the use of technology.  These are the areas companies should be paying particular attention to right now.

Smartphones — Given the massive growth in Smartphones and related communication technology, many security experts are predicting new attacks on such devices in the coming years.  The effort expended to protect company information should be as aggressive as the effort by criminals to exploit these devices.

Money Transfers — Cyber-criminals continue to target businesses which utilize Internet banking since unlike personal accounts business Internet banking typically offers the ability to transfer money out of the business account via ACH or Wire Transfer.  Businesses should employ stand alone computers for banking needs and consistently educate their employees on the latest fraud schemes.

eDiscovery — Most companies are not prepared to deal with eDiscovery during this phase of litigation.  eDiscovery has become an integral part of most litigation and companies need to take a proactive approach to eDiscovery to protect themselves and their shareholders.

Walking Data — Theft of intellectual property is extremely significant and storage devices (i.e. USB drive, Smartphones, etc.) provide the portability which allows individuals to easily access, retain, and transfer, a tremendous amount of data, many times undetected.  Companies need to put security controls in place to monitor or prevent such data theft.

Downsizing Controls — Many companies have downsized their workforce and as a result some IT security controls have been weakened.  Oftentimes companies can no longer enforce dual controls due to economically limited staff.  Companies need to ensure they have proper monitoring over critical operations and review IT controls periodically.

Cloud Computing — As companies continue to evaluate ways to reduce IT cost, cloud computing will certainly be part of many of those companies’ future IT strategies.  Care will need to be taken to evaluate the risks associated with cloud computing as well as to understand the contractual obligations and limitations.