CUPERTINO, Calif. - Jan. 16, 2001 – Symantec Corp. (Nasdaq: SYMC), a world leader in Internet security technology, today announced that it is one of the founding members of a new Information Technology Information Sharing and Analysis Center (IT-ISAC) to cooperate on cyber security issues. In addition, Symantec's Robert Clyde will serve on the organization's board of directors.
The objective of the IT-ISAC is to enhance the availability, confidentiality, and integrity of networked information systems. Several reports in the last few years have estimated total damages to the U.S. economy from computer crime to be as much as $300 billion. Left unchecked, computer viruses, hackers and other similar security threats can have significant consequences on a company – both internally and externally.
The time and money required to overcome a cyber attack are usually diverted from other activities critical to a company's core business and can result in lost data, productivity, sales and revenue. Such attacks also can destroy a company's reputation if the attacker is able to steal personal information about customers such as credit card numbers. Maintaining the security of the Internet is an ongoing process and must be a priority for companies to succeed in today's economy.
"The IT-Information Sharing and Analysis Center is meeting President Clinton's challenge by bringing the industry together to address the increasing number of threats to the foundation of the digital economy," said Robert Clyde, vice president and chief technologist for the Enterprise Solutions Division at Symantec. "The most effective way to protect against widespread cyber attacks is to make sure the cure is traveling faster and broader than the threat itself. By teaming together, industry leaders can create and maintain a network of security across the Internet and stay one step ahead of tomorrow's threats. Symantec is honored to be part of an organization whose members are committed to industry collaboration in maintaining the security of the Internet."
The IT-ISAC is a not-for-profit corporation that will allow the information technology industry to report and exchange information concerning electronic incidents, threats, attacks, vulnerabilities, solutions and countermeasures, best security practices and other protective measures. The organization is a voluntary, industry-led initiative with the goal of responding to broad-based security threats and reducing the impact of major incidents. Membership in the IT-ISAC is open to U.S.-based information technology companies. It will offer a 24-by-7 network, notifying members of threats and vulnerabilities.
Symantec is the world leader in providing solutions to help individuals and enterprises assure the security, availability, and integrity of their information. Headquartered in Cupertino, Calif., Symantec has operations in more than 40 countries. More information is available at www.symantec.com.
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