As far as Dr. Giles Hogben of ENISA is concerned, now might be the golden opportunity for information security experts to influence the security and privacy measures that may help define Internet safety for the next decade or beyond.
"There are still a lot of inexperienced people out there that are passing themselves off as experts," says Scott Laliberte, managing director of Protiviti, outlining the common challenges of penetration testing.
As fraud continues to evolve and affect financial institutions, careers are plentiful for fraud-fighting professionals, says Jean-Francois Legault, a fraud investigations specialist with Deloitte and Touche.
"I don't think there's any connection [to] the investments banks will make in fraud prevention," says Doug Johnson of the ABA. "It's not about making budget cuts; it's about protecting the customer relationship and ensuring security."
When economists dissected July's 0.1 point drop in overall unemployment, to 9.1 percent, they attributed the decline mostly to fewer people seeking work. But that's not the case for IT security professionals. There are few discouraged workers in the information technology occupation categories these days.
"The need for fraud-prevention tools increases during times of recession," says Aite Group's Julie McNelley, who does not believe this week's economic shockwaves will hurt organizations' security priorities.
ISACA's Marc Vael says differences in cloud computing environments and cloud providers can pose security risks. But well thought-out contracts and risk-management plans can fill potential security gaps and ensure business continuity during outages and disasters.
Looking at the international stock market crash and the impact it's likely to have on future investments in fraud detection and prevention, how much can banks and credit unions reasonably afford, when economic stability is shaky and the financial future uncertain?