Creating Trust in the Global Economy Cyber Security and Global Affairs Workshop Saint Peters College, Oxford University August 6, 2009 Bob West, CEO, Echelon One

2 Agenda The Milieu Object Lesson The Concept The Way Forward The Plan Benefits Thank You!

3 The Milieu Business success depends on trust Lack of trust has bred market failures Trust and integrity must be restored

4 Object Lesson Data breach led to client names being stolen and then sold to German government Data breach led to client names being stolen and then sold to German government International client names and assets were exposed and placed at risk Direct result - numerous arrests for tax evasion and recovery of unpaid taxes Indirect result - Swiss banking practices are no longer trusted as before Indirect result - Swiss banking practices are no longer trusted as before Lessons learned – Incentives work! Protecting critical infrastructure is not an option but an imperative!

5 The Concept Trust Corporations Policy Technology

6 The Way Forward A market solution will INCENT organizations to change their behavior: Early adopters drive regulation to market participation Reduces losses due to internal fraud and data breaches Reliable, accurate and current information = efficient market decisions Technology resiliency=economic resiliency … Companies make more money

7 The Plan Lead ISO standards adoption Public education campaign for variety of stakeholders Implementation of National Infrastructure Protection Plan Create integrity model and implement testbed

8 Benefits A market solution incents the fundamental drivers of the economy Shared vulnerabilities = shared opportunities A resilient critical infrastructure … Companies make more money

9 Thank You! “Set your expectations high, find men and women whose integrity and values you respect, get their agreement on a course of action and give them your ultimate trust.” John Akers Contact Information: Bob West: