Security News > 2011 > March > Security Experts: 'A Wake-up Call for the Rest of the World'
http://www.bankinfosecurity.com/articles.php?art_id=3432 By Tracy Kitten Managing Editor Bank Info Security March 16, 2011 The crisis in Japan shows the world is an increasingly smaller place. On Tuesday, stocks in the U.S. and Europe took hits, as the impact of Japan's disaster response continues to spread throughout the global financial market. U.S. stock prices fell 2 percent. In Europe, shares in nuclear-related utilities, luxury groups and assurance companies fell 3.5 percent. Japan, which on March 11 was hit by a 9.0 earthquake that caused a tsunami of catastrophic proportion, has seen its infrastructure rocked. Loss of power and communications pale in comparison to the human casualties and mounting fears of radiation poisoning from stricken nuclear plants. From a financial and business perspective, the losses and pain are spreading, adversely affecting mature global markets on a daily basis. The global impact has been eye-opening, says Mark Lobel, principal at PricewaterhouseCoopers and a long-time security expert. Global banking institutions and financial services players -- just one piece of the economic puzzle -- could learn a great deal from Japan's disaster response. "There is nobody better prepared for this type of event than the Japanese," Lobel says. Bank branches in areas destroyed by the earthquake and subsequent tsunami have obviously been closed, says Tom Wills, principal consultant and secure strategies analyst for Javelin Strategy & Research. But the Japanese financial system and payment networks have not been significantly disrupted. [...] ___________________________________________________________ Tegatai Managed Colocation: Four Provider Blended Tier-1 Bandwidth, Fortinet Universal Threat Management, Natural Disaster Avoidance, Always-On Power Delivery Network, Cisco Switches, SAS 70 Type II Datacenter. Find peace of mind, Defend your Critical Infrastructure. http://www.tegataiphoenix.com/