Breaches will not slow anytime soon, and there's not much financial institutions and the payments chain can do to stop them. At this point, the best course of action for banks and retailers is to focus on damage control.
A personalized medicine project leveraging genetic information holds great promise for improving patient treatment but raises certain privacy issues, says Scott Megill, CIO at the Coriell Institute for Medical Research.
The legislation sponsored by Senate Judiciary Chairman Patrick Leahy would nationalize data breach notification and stiffen penalties for those who fail to notify law enforcement and individuals of a data breach.
Revelations that Google's Gmail and Sony Pictures were both targeted by hackers highlights growing concerns about cybersecurity and the sophistication - and frequency - of attacks, as well as how to keep the public informed about such incidents.
"Just securing the data is no longer enough," says Trevor Hughes, head of the International Association of Privacy Professionals. 'Privacy professionals, in addition, need to prepare for what happens when things go wrong."
Organizations looking to improve their privacy management in the event of a breach "have to continually plan and prepare," says Nationwide's Chief Privacy Officer Kirk Herath. That means putting into writing a comprehensive plan.
The recent Sony and Epsilon breaches sent a strong reminder that companies lack transparency and aren't prepared to respond to a breach once it occurs, says Kirk Herath, Chief Privacy Officer at Nationwide Insurance Companies.
From Epsilon to Sony, recent data breaches and legislative trends tell a dramatic story about the turbulent state of privacy worldwide, according to J. Trevor Hughes, head of the International Association of Privacy Professionals.
Organizations participating in the Nationwide Health Information Network initiative should use digital certificates that meet standards already required for federal agencies, the Privacy and Security Tiger Team is recommending.