Newswise — Cybersecurity is no laughing matter to Prof. Lawrence A. Gordon - Ernst & Young Alumni Professor of Managerial Accounting and Information Assurance in the Robert H. Smith School of Business. He has worked for ten years with frequent collaborator Martin P. Loeb - a Deloitte and Touche LLP Faculty Fellow - to take a serious look at the economic issues related to cybersecurity. "The initial development of the Internet did not anticipate the security problems that could, and actually did, emerge," he says.
In fact, over the past decade security issues on the Internet have moved from the occasional hacker to organized crime, large-scale fraud, disgruntled employees, government entities, and terrorists. "Regardless of the motive, individuals, organizations and nations need to be pro-active and resilient in their efforts to prevent, and respond to, cybersecurity breaches," says Gordon.
To focus attention on the economic issues related to cybersecurity, Prof. Gordon created the Gordon Prize - initially endowed at $1,000 - for the best English-language essay on the topic "Managing Cybersecurity Resources." Gordon says his decision to endow the prize is a direct result of his "general commitment to assist the University of Maryland become one of the top research universities in the World, as well as my specific commitment to help make the University of Maryland the place that researchers, businesses, and government agencies think of first when looking for thought leaders related to issues concerning "managing cybersecurity resources." His hope is to increase the value of the prize over time.
In fact, Prof. Gordon's clear intent is to make sure the Smith School and its Department of Accounting and Information Assurance receives full credit for his sponsorship of the Gordon Prize. Offered yearly, the competition is open to students, faculty and information security professionals in both the public and private sector. There are no plans to publish the winning essay. See the submission guidelines for more information. Recently, Newsdesk spoke with Prof. Gordon about the state of cybersecurity in today's world, and what he hopes to accomplish with his newly endowed prize.
Q - Why is security on the Internet (cybersecurity) a growing concern?
Over the past decade, the Internet has changed the way individuals, organizations and nations communicate with each other. This change is still in progress and growing at an exponential rate. However, the initial development of the Internet did not anticipate the security problems that could, and actually did, emerge.
Indeed, as the number of users and different uses of the Internet continue to grow, the security problems associated with the Internet are also growing in parallel fashion. Thus, cybersecurity (i.e., the protection of information transmitted via the Internet or other computer network) is a growing concern to individuals and organizations.
Q - Hackers have gone after just about everyone from individuals to the Pentagon and international banks with some great success. What are they hoping to accomplish?
There are many motives underlying meditated cybersecurity breaches. One motive is personal financial gain (e.g., getting illegal access to someone's bank account). Another motive is to gain an organizational or national competitive advantage (e.g., corporate or national espionage). Yet another motive is the mere "thrill" that some receive from being able to breach the cybersecurity of an individual, organization or nation. Regardless of the motive, individuals, organizations and nations need to be pro-active and resilient in their efforts to prevent, and respond to, cybersecurity breaches.
Q - Can those trying to defend Internet users from these hackers keep up? They seem to be increasingly sophisticated.
Protecting against Internet breaches is particular tough for the following reason. An attacker only needs to find one source of weakness, whereas the individual, organization or nation being attacked needs to consider all sources of weaknesses. Since 100% security is usually impossible, it is imperative for individuals, organizations, and nations to efficiently manage resources devoted to cybersecurity.
Q - In what unique ways are you able to use your position here at the University of Maryland's Smith School of Business as a "bully pulpit" to raise awareness about cybersecurity issues?
As a world-class research institution, the University of Maryland has the attention of individuals, business executives, and government leaders from around the world. As such, UM's professors have a unique medium for playing a thought leadership role in addressing issues related to cybersecurity. Being a part of a top-notch Business School (i.e., the Smith School of Business) adds to one's ability to have such influence.
Q - Tell me more about the Gordon Prize and the impact you hope it will have on improving cybersecurity awareness.
The expected impact of the Gordon Prize is to generate innovative solutions to the problem(s) associated with "managing cybersecurity resources."
Q - Talk a little more about your commitment to the University of Maryland.
My decision to Endow the Gordon Prize in "Managing Cybersecurity Resources" is the result of my general commitment to assist the University of Maryland become one of the top research universities in the World, as well as my specific commitment to help make the University of Maryland the place that researchers, businesses, and government agencies think of first when looking for thought leaders related to issues concerning "managing cybersecurity resources."
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