(Published in Manila Standard Today under the Greenlight Column, June 20, 2011) More than 360,000 of Citigroup Inc.’s U.S. credit card customers’ data was breached by hackers according to a statement of the bank posted in its website. This is the latest of the string of large-scale hacking and data breach against high-profile companies, and the cost to them is becoming staggering. In April, Sony’s Playstation Network was attacked by hackers which affected more than 100 million online accounts. Sony expects it will cost it ¥14 billion (US$170 million) this financial year. Earlier this month, Google blamed China of trying to hack the accounts of several hundred of Gmail account holders that included U.S. government officials, journalists, and Chinese human rights activists. These statements from Google could seriously hurt its business. In fact last year, the Obama administration took up Google's complaints about hacking and censorship from China. Afterwards, Google partially...
This blog features a collection of my articles, essays, and research studies on business, management, and social issues and subjects published in local (Philippines) and international publications. It also includes selected speeches and talks to academic and professional audience. (The views and comments in this blog do not reflect those of my past, present, and future employers)