[privacy] How Are U.S. Businesses and Lawmakers Responding to Data Breaches?

["Paul Ferguson" <fergdawg () netzero net>]

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Via Wall Street & Technology.

[snip]

There were 305 publicized data breaches affecting nearly 77 million
individuals in the United States in the first nine months of 2007,
according to the Identity Theft Resource Center, a nonprofit that works to
prevent identity theft. Of these incidents, 6.2 percent were reported by
banking, credit and financial services institutions.

Law firm Scott + Scott, which recently conducted a separate survey on data
breaches with privacy and information management research firm The Ponemon
Institute, reports that almost half the data breaches it recorded were
attributed to lost or stolen equipment, such as laptops, PDAs and memory
sticks. The second largest threat, according to the Colchester, Conn.-based
firm, arose from negligent employees, temporary employees and/or
contractors. The survey, "The Business Impact of Data Breach," examined the
responses of more than 700 U.S.-based C-level executives, managers and IT
security officers in midsize to large businesses spanning all industries.

But despite the frequency of such security failures, 42 percent of
respondents to the Scott + Scott survey whose companies have suffered data
breaches claimed their organization's IT security spending will remain the
same in the coming year. Even after suffering a data breach, 46 percent of
businesses failed to implement encryption solutions, and 82 percent did not
seek legal counsel prior to responding to the incident -- even though they
had no prior response plan in place.

[snip]

More:
http://www.wallstreetandtech.com/feed/showArticle.jhtml?articleID=202600763

- - ferg

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--
"Fergie", a.k.a. Paul Ferguson
 Engineering Architecture for the Internet
 fergdawg(at)netzero.net
 ferg's tech blog: http://fergdawg.blogspot.com/

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