In one of the most controversial cybercrime cases in recent years, Gary McKinnon, a UK based systems administrator, was accused by the US government of hacking into dozens of US military and NASA computers between February 2001 and March 2002. Dozens of critical systems were rendered inoperable, US Naval Air Station files were altered and deleted, and an entire network of 2,000 US Army computers was brought down. In another incident in 2008, a leading UK bank's credit card website experienced a sudden surge in visitors. Unable to withstand the load, the site malfunctioned, leaving customers unable to access their accounts for days.
The common factor binding these two otherwise unrelated events is technology, and more specifically, its vulnerabilities. Today, technology forms the backbone of enterprises. Almost all business processes depend on IT in some way or the other. Gartner predicts that in 2010, worldwide IT spending will reach $3.4 trillion. But as the importance of IT increases, so do the associated risks. Chief Information Officer's (CIO) therefore play a key role. Their ability to straddle both technology and business processes, and build IT while maximizing business benefits, has, in fact, transformed them into key strategic decision makers. However, their task is far from easy.
