Date: May 01, 2011 Source: USDA SBIR Impact
Secure Banking Solutions (SBS) Small and medium-sized entities (SMEs) have a wealth of private data that cyber thieves are targeting with increasingly regularity. Identity theft is the fastest growing crime in America and the risks of not protecting such information can be catastrophic to SMEs in rural communities. The Ponemon Institute calculates that in 2008, businesses paid an average of $202 per record compromised. That equates to $100,000 for an SME with 500 customers records. SMEs who cannot securely manage customer data from identity theft face either closure or acquisition by larger metropolitan-based organizations that have in-house IT security. Secure Banking Solutions proposes to test the feasibility of creating an information security management system that could provide a basic level of information protection for rural SMEs. Deployment of such a system would protect rural citizens and the SMEs rural communities depend on for jobs and leadership within the community.
Secure Banking Solutions was highlighted in the Prairie Business Magazine as a company that is dealing with these security issues. Jeff Haase, Chief Operating Officer for SBS explained the issues and how this work will be able to create new jobs tied to the protecting of information security in rural communities and at the same time understand the needs of rural America. For more information go to http://www.protectmybank.com.
