01 September 2016
Visit dh.com

Spitzer turns fire on ID theft as DSW data breach deepens

19 April 2005  |  8120 views  |  0 safe

New York Attorney General Eliot Spitzer has proposed a legislative package aimed at strengthening law enforcement and ensuring disclosure to consumers of security breaches affecting personal financial information.

The ID theft measures are aimed at giving consumers better control over the dissemination of personal information, strengthening government’s ability to prosecute crimes leading to identity theft and increasing penalties for such crimes.

Says Spitzer: "New York State must enact reforms to strengthen consumers’ ability to control personal information and to facilitate the prosecution of identity theft crimes."

In February, the Federal Identity Theft Data Clearinghouse reported that 38% of all fraud claims in 2004 related to identity theft, and New York State ranked seventh in the nation in per-capita identity theft reports.

The issue has risen up the national policy agenda following a spate of high profile security breaches at US banks, retailers and information brokers in the past couple of months. Publicity surrounding security gaffes has increased since the passage of legislation in California forcing data holders to disclose incidences of theft.

In the most recent case, DSW Shoe Warehouse says thieves who accessed the firm's database obtained 1.4 million credit card numbers and the names on those accounts - 10 times more than the company estimated last month. Two major information brokerage companies, ChoicePoint, and LexisNexis have also admitted that data files of over 455,000 consumers were breached, while approximately 180,000 GM Mastercard holders will soon receive notification that someone might have stolen their personal information in a data break-in at Polo Ralph Lauren Inc.

Spitzer’s legislative proposals would establish statewide personal information opt-out lists and allow consumers to institute a 'security freeze' on credit files. Information brokers would also be required to inform consumers of any legitimate disclosure of their data and notify them of potential security breaches.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

HSBC credit card data exposed in security breach

HSBC credit card data exposed in security breach

14 April 2005  |  10535 views  |  0 comments
US banks to upgrade ID theft centre

US banks to upgrade ID theft centre

12 April 2005  |  8013 views  |  0 comments
Banks back UK ID theft Web site

Banks back UK ID theft Web site

12 April 2005  |  8476 views  |  0 comments
LexisNexis probe uncovers 59 security breaches

LexisNexis probe uncovers 59 security breaches

12 April 2005  |  6628 views  |  0 comments
Security in online banking is key to customer loyalty

Security in online banking is key to customer loyalty

06 April 2005  |  12576 views  |  0 comments
Banks urged to act on Net security fears

Banks urged to act on Net security fears

01 April 2005  |  6951 views  |  0 comments
Bank of America on ID theft alert after computer tapes go missing

Bank of America on ID theft alert after computer tapes go missing

28 February 2005  |  10616 views  |  0 comments | 1 tweets

Related blogs

Create a blog about this story (membership required)
Visit www.smartstream-stp.comVisit capgemini.comVisit dh.com

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
9905 views comments | 23 tweets | 26 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
7649 views comments | 11 tweets | 10 linkedin
Mondo becomes MonzoMondo becomes Monzo
6708 views comments | 14 tweets | 9 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
6651 views 0 | 5 tweets | 15 linkedin
Global Fintech Hubs Federation launchesGlobal Fintech Hubs Federation launches
5878 views comments | 19 tweets | 5 linkedin

Featured job

Find your next job