Security Breaches on the Internet
The article, "Surging Losses, but Few Victims in Data Breaches," discusses the latest hysteria on the internet, stolen identities. One of the most prominent cases was that of ChoicePoint in February 2005. After the scare of 150,000 consumers personal information being in the wrong hands, internet security has been a hot and a touchy topic.
The author believes there has not been an increase in personal information being stolen, but more attention has been focused and added when there are security breaches. More recently, 32 states have passed legislature "requiring companies to notify consumers when personal data has been lost or stolen." The most common form of data loss, according to surveys, is lost or stolen wallets, checkbooks, and credit cards. However, when there are data losses on the internet or stolen from companies, the media attention sparks the outcry from the public.
The correlation between stolen personal information and identity theft has been miniscule comparatively, says Chris Thom, the chief risk officer for MasterCard. Instead, credit card fraud has been the most common crime versus data information that was lost or stolen. Major credit card companies, such as VISA, MasterCard, and American Express, have responded to customers concerns by offering zero liability policies. Not to mention that the credit card companies technology is improving just as thefts become more savvy.
The future of the Internet, as we know, will continue to grow. More business and transactions will be conducted online which means there will need to be higher levels of security in place. As more commerce moves to the Internet, this means more headaches and ominous security problems are to come. The ideal scenario would be for companies and the government to develop countermeasures and law enforcement in order to protect the average Internet user going on with their day-to-day lives.





