Data Privacy and Protection: the impact of Identity Theft on Customer Trust

[mandy]

Could Identity Theft Dry Up E-Commerce?

What is the impact of data theft to your company, your customers, their trust and subsequently your bottom line? It's insurmountable, unless the need for data privacy and protection moves from the server room and the legal beagles to a corporate-wide customer strategy in which every employee is responsible for protecting customer data. Gartner's recent study about online security TechNet Security Center: Tools & Guidance to Defend Your Network shows customer confidence is rapidly eroding. If customers' confidence continues to erode, how many of them will be willing to buy on the Web, disclose personal information or offer credit card information to contact center agents when placing orders on the phone?

Why is identity theft a hot topic right now? Part of the reason is that criminals have gotten much better at data theft. Another key component is the increasing awareness on the part of consumers. Several years ago, when the Ponemon Institute interviewed consumers, most did not fear identity theft. They did not know how prevalent it was or the effects it could have on their lives should they fall victim. As such, they did not pay much attention to it or demand changes from companies...

full article: http://ecommercetimes.com/story/7Ybpe7dl...orth.xhtml

[xppman]

While ID theft is a concern. I see no indications that the cc toting world will stop buying online
just as they don't stop swiping their debt cards and cc's at the gas
pumps, Wally World or
handing it to a waiter in a fine restaurant to run.

What I do see is people creating articles that in their next installment will be promoting this way safe super cool "program" that will save us all from the inevitable ID theft online scenarios.

A little bit of common sense goes a long way. Besides if you have a problem the big cc companies are already on top of it for the most part. Not sure what government can do to stop 21st century
cyber criminals other than shut down the net and we all go back to trading chickens for our everyday needs. Highly unlikely this is going to happen.  IMO