Information security crucial in e-commerce, says Boyce
A GOVERNMENT MINISTER has said that steps must be taken to prevent e-commerce from becoming an avenue for increased fraud, stolen personal information and situations which could undermine the public’s confidence.
“Organizations therefore need to implement information security management systems to address these current risks and maintain customer confidence,” acting Minister of Industry and Commerce Senator Darcy Boyce said.
Boyce made the comments last Wednesday during an information security technologies workshop which formed part of the 23rd Regional Central Banks’ Information Security Systems Conference at Hilton Barbados.
He said many Caribbean countries including Barbados were now developing Computer Emergency Response Teams (CERT) so they could adequately respond to computer security incidents.
“The presence of a national response mechanism to computer security incidents will help in the identification, containment and investigation of such incidents,”?he added. “The presence of a CERT will make Barbados more attractive for foreign businesses to locate here, as almost all modern large businesses are now dependent on the Internet and must be seen as a vital part of the national security infrastructure.”
Boyce said Barbadians must be mindful of the fact that compromised information systems can severely damage the reputation of those organizations affected and by extension that of the country.
However, he said potential foreign investors in Barbados could be confident that Barbados had legislation aligned to that of other international jurisdictions.
“When the Cybercrime Convention is ratified, notice would also be served to international cyber criminals, who might seek to use the island as a launch pad to perpetrate international cybercrimes, that Barbados has the necessary laws to ensure their prosecution.”
Boyce said information security must be viewed as an investment in the protection of information which is a key business asset. “The loss of information can result in significant financial losses and can even possibly spell the end of the business or organization,” he stated. (NB)