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Web Development Evolution: The Business Perspective on Security William Bradley Glisson L. Milton Glisson Ray Welland Why? Data, Information, Knowledge “One man’s data can be another man’s knowledge, and vice versa, depending on context” (Stewart, T. A., The Wealth of Knowledge. ) Information is the worlds new currency; information has value.“ (Secret Service Director Ralph Basham ) “Knowledge is what we buy, sell, and do” (Stewart, T. A., The Wealth of Knowledge. ) Business Incentive The 2004 (FBI) Computer Crime and Security Survey estimates that losses from internet security breaches, in the US, exceeded $141 million within the last year. PricewaterhouseCoopers 2004 Survey indicates that security problems are on the rise in the United Kingdom and that malicious attacks are the primary culprits. The Department of Trade and Industry’s (2004) survey estimates “security breaches continue to cost” UK businesses “several billions of pounds.” The Deloitte 2005 Global Survey estimates that identity theft cost the UK almost a billion dollars in 2003. Application Security Truth Companies do not want to admit that their systems have been compromised They do not want to incur the expense necessary to rectify the problem They do not know how to fix the problem They are not even aware that their systems have been compromised. Soft and Hard Cost Telang and Wattal’s research indicates that a software vendor loses, on average, approximately 0.6% of their stock price per vulnerability announcement. Minimize the chance of copy cat attacks on their systems until the issue has been resolved and patched. Legislative Pressure Economic Espionage Act of 1996 (EEA) Health Insurance Portability and Accountability Act of 1996 (HIPAA) Graham-Leach-Bliley Act of 1999 Sarbanes-Oxley Act of 2002 (SOX) Recently a ninety-one page bill was introduced in the Senate by Senator Patrick Leahy and Senator Arlen Specter containing new rules for corporate data security and stiff