Frank has a good post about security vulnerability reporting
As Frank says this paper is about HexViews policy of disclosing about a vulnerability (an MS Access issue in this case) 24 hours after it was reported to the vendor. Frank grows on to give some great insights based on the recent OWASP conference in London that he attended recently, particularly a keynote on terrorism he heard there. Frank talks in detail about the risks involved in reporting vulnerabilities, writing about them in public forums, writing further about exploits and explaining how they work.
There are some great insights and thoughts in this post. Read it!