Theft of 2 million customer records at Countrywide Home Loans is more common than organizations think
August 11, 2008 - In the wake of the data theft at Countrywide Home Loans, FrontRange Solutions, a leading developer of IT management software solutions, emphasized that the use of USB and other portable storage devices leaves organizations open to security breaches caused by lax business controls.
According to reports, an employee inside Countrywide was able to commit data theft for two years, stealing some 2 million records – 20,000 at a time – before finally being caught.
Kevin J. Smith, vice president of products at FrontRange, commented, “We estimate that 99 percent of data theft involving devices such as USB flash drives, MP3 players and other storage media goes undetected. Many organizations – both in the public and private sectors – simply haven’t acknowledged the threat that comes from failing to control the flow of data to and from the corporate network via a PC’s USB port or other local connections.”
Following its acquisition of Centennial Software in April 2008, FrontRange now offers the DeviceWall endpoint security product line, which helps prevent both malicious and accidental security breaches. DeviceWall can be easily configured to manage users’ and groups’ access rights to different classes of portable devices. The product also provides a complete audit trail of all device connections and data transfers.
“We find that IT managers who install DeviceWall are surprised at just how many device connections occur on their network every single day,” said Smith. “Without a solution to automatically record and manage these attempted data transfers, IT and business managers simply have no visibility into not only what data is leaving the organization, but also what risks are being brought into the network.”
To help organizations better understand the risk these devices pose to their sensitive data, FrontRange offers a free 30-day trial of DeviceWall, which can provide complete visibility of all device connections across 50 sample PCs. The trial can be downloaded from www.devicewall.com.
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Centennial Software was acquired by FrontRange Solutions (www.frontrange.com) in April 2008. FrontRange Solutions develops Service Management, IT Infrastructure and Customer Relationship Management solutions that scale with the needs of mid-sized and distributed enterprises. The company – through its FrontRange, HEAT, GoldMine, Enteo and Centennial brands – offers a unique portfolio that has been chosen by more than 150,000 organizations worldwide to help improve the effectiveness and reduce the cost of interacting with external and internal customers.
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Matt Fisher, Vice President Marketing
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Veronika Bliem, Lewis PR
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