Fine Tuned Machines Building a Strong Brand Image by Securing External Data Transmission A Review of Information Security in the Debt Collections World.

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Presentation transcript:

Fine Tuned Machines Building a Strong Brand Image by Securing External Data Transmission A Review of Information Security in the Debt Collections World

Fine Tuned Machines XYZ, a Debt Collections Company A leading Debt Collections firm with over $700 million in Capital Full range of Debt Collections, including auto recovery, municipal accounts, bankruptcy and credit debt Provides collections services for major clients such as Bank of America, Chase, HSBC, Toyota and GMAC Strives to build relationships with the “debt sellers” To achieve the goal of collecting on debts, XYZ is “in the business of purchasing information” 3/13/20102MSIT FTM Group

Fine Tuned Machines PII Data Flow for Debt Collections 3/13/2010MSIT FTM Group3

Fine Tuned Machines Security Concern 3/13/2010MSIT FTM Group4 XYZ must protect the data transmission to external parties to avoid data breaches and defend against malicious attacks Implications of data transmission breaches Legal Consequences Financial Impacts Stakeholder Confidence Company Reputation Other Partnerships (Third Party Data Providers, External Legal Counsel)

Fine Tuned Machines Outline for External Data Transmission 3/13/2010MSIT FTM Group5 Discuss different types of transmission and their protection methods Snail Mail / CD FTP Upload to secured Seller sites Potential Attacks on External Data Transfer Legal implications Costs to protect & secure

Fine Tuned Machines External Communication Policies Adopt policies that mandate secure external communication between trusted networks and untrusted networks through out organization. When secure external communication is not possible; adopt best practices to minimize risk. Evaluate current external communication practices. Create transition plan to move towards approved security policy. Maintain revue process to assess effectiveness of policies.

Fine Tuned Machines 3/13/2010MSIT FTM Group7