The Importance of User Administration Controls

[Steve]

I try to keep my eyes open for good articles that communicate the
importance of IT controls and the related risks. Just recently, a
European Bank (Société Générale) was the victim of the largest (known)
bank fraud in history (EURO 4.9 billion loss). Attached is an article by
PCWorld.com that links the loss to a breakdown in basic user
administration controls. These stories are handy when communicating
the business case for basic 'intangible' needs such as general
controls, especially when it is difficult to point to a direct
monetary benefit, as with user administration...typically thought of
solely as an expense. Basic IT general controls are not academic;
they are important and usually the response to real losses such as
this. I thought you might be interested:

http://www.pcworld.com/businesscenter/article/142137/neglected_it_tasks_may_have_led_to_bank_meltdown.html

Steve