VANCOUVER, Canada, Nov. 20, 2012 /PRNewswire/ -- ACL, the technology company that is transforming audit and risk management, announced today that GE Capital Australia and New Zealand has implemented ACL technology to improve its data leakage detection capabilities. As a result, GE Capital has been able to identify potential unauthorized activity, such as data copying by non-authorized users or exiting employees.
Data leakage risk is a significant issue for consumers, companies and governments alike. According to the 2011 Global Cost of Data Breach Study , costs of data breaches vary depending upon the type of data breach and the country's regulatory landscape, ranging from a high of $5.5 million in the U.S. to a low of $1.1 million in India, reaching $2,270,862 in Australia in 2011. Rapid technological changes and growing data volumes further complicate both internal and external exposure threats.
GE Capital is one of the largest lenders in Australia and New Zealand. It is part of the global GE business, a diversified technology and financial services company. The Information Security Team at GE Capital Australia and New Zealand receives a number of large weekly log files from the security software program implemented by GE Capital headquarters. The team, however, could only perform a limited review of the data with manual analysis techniques and spreadsheet software.
The Internal Audit department sought a more efficient way to analyze the log files using data analysis. They applied ACL data analytics software to automate security log analysis. The analytics generate daily and weekly exception reports to identify potential unauthorized and unusual data copying activity for deeper investigation.