Companies Responsibilities in Enhancing Cybersecurity Chapter

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Cyber Terrorism

Cybersecurity has emerged as one of the important components of modern security initiatives because of rapid advancements of technology and the Internet. Ensuring cybersecurity has become important because of the vulnerabilities of critical infrastructures to cyber attacks in the aftermath of the 9/11 terror attacks. As part of efforts to enhance cybersecurity, federal and state governments in the United States have enacted laws that define the role of various stakeholders in protecting the nation's critical infrastructures. These laws govern the responsibilities of companies and organizations in protecting themselves and customers. In addition, these regulations have some costs associated with them given that enhancing cybersecurity is a relatively complex process.

Organizations' Role in Protecting Themselves and Customers

As cyber attacks continue to increase in the recent past, the federal government has enacted laws and policies to govern the role of organizations in protecting themselves and customers. Based on the executive order signed by President Obama in 2015, organizations need to establish cybersecurity infrastructures that prevent unauthorized acquisition or access to electronic data that comprises personal information (Heilbrun & Brown, 2011). Secondly, organizations are required to inform those affected by any data breach and the Federal Trade Commission within 48 hours after the occurrence of such an incidence.

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If the data breach affects at least 5,000 individuals, organizations are required to notify the major credit reporting bodies. The executive order expanded the powers and authority of the Federal Trade Commission to penalize organizations or businesses for any failure to respond to theft and/or unauthorized access of personal information in a responsible and timely manner. Therefore, the role of organizations in protecting themselves and customers based on U.S. laws on cybersecurity involves preventing unauthorized access and notify relevant stakeholders of any data breaches.

Companies' Responsibilities

Companies and businesses also play a crucial role in enhancing cybersecurity given that they have joined national initiatives towards improving transaction security (Aspen Publishers, 2015). One of the responsibilities of companies is to adopt more secure payment technologies, which act as indicators to customers that their protection of their electronic personal information is treated seriously. In this regard, companies are required to undertake appropriate measures to secure their own systems and provide more secure options to the customers. Secondly, companies are faced with the need to enhance information sharing in order to improve response to incidents of data breaches and fraud. Third, companies should engage in….....

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