Wednesday, March 22, 2006

Debit Card Fraud Legal Loopholes

Debit card fraud underscores legal loopholes allowing companies to keep breaches quiet. This Security Focus article is a thorough review of the problem of notification-law-squirming by financial institutions, ATM manufacturers, software designers and all others to blame for breaches of personally identifiable financial information. All links in the chain of financial data handlers should be held fully liable for any loss of the data crossing their networks or being handled by any one of those sources. Until there is financial incentive to stop losses of financial information, there will be no fixes by those to blame for the losses. Many times the leak cannot be identified or traced so each of the weak points avoid blame for the loss of data. Security should be the highes priority of all financial data networks that put individuals at risk for financial loss. This is the only way to plug the leak in the dike - before the flood.

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posted by RealitySEO at 10:41 PM


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