I was reading an article from a back issue of www.sciencemag.org, The Economics of Information Security and was introduced to the phrase moral hazard effect in which an atmosphere conducive to crime is created because those involved believe that customer complaints would not be taken seriously and they became careless and sloppy at their jobs.
Besides the interesting phrase I was reminded once again that if there is any possibility that money can be made from a new and evolving commodity people will find a way, even if they have to steal from someone else to do it.
This all had to do with the many conundrums involved in Internet security and risk assessment.
The vulnerabilities of software has for a long time been a point of concern for corporations and institutions and since some in the software industry would rather "ship it Tuesday and get it right in the next version" businesses have popped up that specialize in certification services to vouch for the quality of software products or websites.
Unfortunately, there are statistics that show that malicious websites as well as malicious software vendors have obtained a "good certification" subsequently circumventing the system. Someone didn't get the point.
I love this one...
There is actually something called a vulnerability market in which investment firms openly buy vulnerabilities (information about specific software security) and provide this info to their customers and well as the software vendors affected by the bad news.
What a set up. Does this remind you of recent banking issues.
It must take a lot a money, brain power and time to think up these "business models". I would think it would be easier to just invest one's time and money in a legitimate endeavor.
I am sure you have heard that it takes more muscles (work) to frown that it does to smile....
and since I am all for conservation of energy in all forms this article has me smiling.
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