Federal Internet Security Regulation Is Coming

[mandy]

Let's consider the problem first. It wasn't until 1997 that credit cards could be "securely" used online. Obviously the definition of "securely" was rather subjective, but the consuming public was told to trust the new world of ecommerce. Ten years later, data breaches and related identity thefts are exploding in volume. Reported losses of sensitive personal data such as credit card numbers or financial information are up 40 percent, and in 2007 there were reportedly 446 breaches exposing over 128 million records. Since the very infancy of viable online commerce, there has been in the making a recipe for disaster. And that recipe begins with a little bit of self-indulgence, continues with a tad of self-regulation, is spiced up with a spoonful of regulatory intervention, and is consummated with a heaping helping of new laws...

full article: http://www.practicalecommerce.com/articl...Is-Coming/