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National Discount Broker Site Compromised

National Discount Broker Site Compromised. “National Discount Brokers’ site, which has 200,000 customers, was down for more than an hour Thursday as company engineers tried to fend off what appeared to be an attack”

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National Discount Broker Site Compromised

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  1. National Discount Broker Site Compromised “National Discount Brokers’ site, which has 200,000 customers, was down for more than an hour Thursday as company engineers tried to fend off what appeared to be an attack” “The FBI is still investigating the other attacks, which took down Yahoo!, eBay and E*TRADE, among others.”

  2. Ikea’s Contact DB Compromised From:"IKEA" <ikea_promo@ikea-webkit.com>  To:lisamarie@psu.edu Dear Lisa, As promised, we want to provide you with an update on our rigorous site security investigation. We worked with an expert third party Internet security firm to ensure that our system supports the most advanced Internet security protection that is essential in keeping up with today's ever-changing Internet climate. Rest assured that no credit card or financial information was ever at risk. Additionally, access to your email account was not at risk. You will still receive the IKEA catalog as you requested. Sincerely, IKEA Customer Service

  3. How Security Empowered eSchwab to Become the #1 Internet Broker Ginni Chadha and Lisa Lacombe MIS 597C November 27, 2000

  4. Charles Schwab Services • Retail brokerage • Mutual funds • Support services for independent investment managers • Equity securities market making • Research services • Professional advising services

  5. Traditional Trade Process Customer wants to make a trade. Customer walks into or calls Schwab Trade transacted. But what if it’s 3am???

  6. e-Transformed Trade Process Customer wants to make a trade. Customer walks into or calls Schwab Trade transacted. No Problem!!!

  7. e-Transformed Trade Process Customer wants to make a trade. Customer walks into or calls Schwab Trade transacted. But what if you’re in the middle of nowhere???

  8. m-Transformed Trade Process Customer wants to make a trade. Customer walks into or calls Schwab Trade transacted. Voila!!!

  9. Trading Anywhere

  10. Trading Anytime

  11. Obvious Benefit to Consumer, but What is Value Added for Schwab? • Increased customer base • Customer relationship development • Knowledge acquisition • Increased profits • Cross selling/increased service offerings • Increased brand awareness

  12. MarketPlace Value Chain

  13. MarketSpace Value Chain

  14. Industry Sources Say… • #1 Internet Broker, #1 Serious Investor, #1 In Ease of Use, #1 in Relationship Services, Fall 2000, Gomez. • #1 Full Service Broker and #1 Discount and Online Broker, Sep 2000, Worth Magazine • #1 in Investment Research, #1 in Portfolio Tracking, #1 in Banking Services, March 2000, TheStreet.com.

  15. SWOT Analysis of eSchwab

  16. Internet Security Modelincorporates SSL Browser requests secure conversation w/ server Server provides certificate Browser authenticates Browser uses public key to encrypt shared secret key Browser sends encrypted share secret key to server Shared secret key encrypts rest of conversation

  17. WAP Security Modelincorporates WTLS Wireless Network Internet Network Content Server Wireless Device WAP Gateway WTLS enables super secure transactions without requiring the power-and memory-hungry security solutions used on the Web.

  18. Evolving Security Issues • Viruses • Hackers…ask Bill Gates • Continued investment in IT

  19. Developing Security Technologies epad chip2chip Biometrics Smart cards Digital signatures

  20. Summary • Schwab’s evolving business model • How the e-business is dependent upon state-of-the-art security measures • Future issues and evolving security technologies

  21. 2000 Statistics Schwab • 39% revenue growth from 98-99 • 69% profit growth from 98-99!!! • 4.1 m online accounts • 81% trades online (compared w/ 36% in 97) • 80% transaction cost savings per trade • 21% online market share (down from 50% in 97)

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