The Web 2.0 Threat

As the Web 2.0 movement makes interactive applications and social networks such as Facebook ubiquitous on employees' desktop computers, financial firms are facing the daunting task of monitoring these so-called greynets.

Instant messaging security vendor FaceTime Communications estimates that there are more than 600 greynets worldwide, a number that will climb past 1,000 by the end of the year. These networks are called greynets because the peer-to-peer applications they are composed of operate in the shadows, without company authorization, and are difficult to police. According to a recent survey by FaceTime's Security Labs research unit, 90 percent of IT managers have experienced a greynet-related security incident in the last six months--despite deploying firewalls and intrusion prevention systems.

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