Hacking Anxiety Grows as U.S. Hit in South Korea

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By Douglas A. McIntyre Published
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If anyone wants to know how skilled hackers are, both in terms of stealing personal data and corporate secrets, they only need to look at the cyberattack on the U.S. military in South Korea. The accounts of 16,000 people where hit. All associated with American military operations, these accounts should be impressively guarded.

The first reaction to the hacks was what the military reported:

No military or defense-related classified information was compromised because the affected system was a human resources recruiting system separate from our military network.

That it beside the point. Hackers have once again proven that they can bypass well-built security, almost at will.

Headlines like the one about the breach in Korea are not just read (or seen on the Internet and TV) with casual curiosity. People get to thinking about their bank accounts and credit cards. Company executives reflect on whether their data is well-protected, because it may barely be protected at all.

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Where will the next big hack come? The firewalls the military has should be better than Target | TGT Price Prediction Corp.’s (NYSE: TGT) which suffered the most visible corporate hack of the past several months. What’s next? Individuals should be worried about their presence on social media. Facebook Inc. (NASDAQ: FB) would be the ultimate hack, with its 1.2 billion members who store everything on the service from credit cards to extremely personal information. Facebook almost certainly has among the best cybersecurity measures in the world. A hack on a company the size of Facebook might finally tip the public’s perception that absolutely no information stored online is safe.

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Hacking has not gotten to a level of success that has triggered Americans to go back in droves to keeping paper records and making deposits at bank windows. Few people buy goods or services with cash. Corporations, the medical profession and government have not reverted to paper and cash either. While a reversal of how people and companies keep data and cash is not likely, anxiety about hacking makes it at least possible.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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