Data breach at Hong Kong toy maker VTech highlights broader problems

Sourced through Scoop.it from: www.businessinsurance.com

The theft of toy maker VTech Holdings Ltd.’s database highlights a growing problem with basic cyber security measures at small, nonfinancial companies that handle electronic customer data, industry watchers said on Monday.  “Smaller companies might be targeted less often, but the implications … can be just as serious,” said Bryce Boland, Asia Pacific chief technology officer of cyber security firm FireEye Inc. “As larger companies implement stronger security measures, smaller companies become relatively easy targets for cyber crime.”  Mr. Salibra said these types of security measures were basic best practices that don’t require a lot of money. “This seems to be a trend. Hardware manufacturers really don’t value software skills — I would imagine because they don’t see any immediate positive impact to their bottom line,” Mr. Salibra said. “Software talent is an easy place to be cheap with minimal consequences until something like this happens.”

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