Showing posts with label privacy. Show all posts
Showing posts with label privacy. Show all posts
Wednesday, December 15, 2010
2011 Data Security and Privacy Trends
Contact me at witsowitz@m2powerinc.com for a copy of the 2011 Data Security and Privacy Trends. You will be surprised and it will affect more small businesses and professions such as medicine, law, and accounting.
Monday, October 4, 2010
State of Connecticut Acts
Five Days ago the State of Connecticut imposed upon all licensed insurance agents, of any type, the responsibility of reporting any identity theft breaches their clients inform them about to the attorney general's office. The attorney general has already taken the stance that any privacy breach that occurs in their state will require identity theft consultation and recovery as part of a company's responsibilities.
Three and one half percent of identities stolen are compromised and the costs to business grows exponentially. Not too many companies do full restoration really. Connecticut fired the first shot. How far behind do you think other states are in enacting the same requirements?
So tell me have you done your privacy prebreach preparedness yet? Do you know if it was done well? Take my test and find out.
As it relates to identity protection "How Naked Are You?" Take the Test. Get Your Score.
Three and one half percent of identities stolen are compromised and the costs to business grows exponentially. Not too many companies do full restoration really. Connecticut fired the first shot. How far behind do you think other states are in enacting the same requirements?
So tell me have you done your privacy prebreach preparedness yet? Do you know if it was done well? Take my test and find out.
As it relates to identity protection "How Naked Are You?" Take the Test. Get Your Score.
Monday, August 23, 2010
Business Owners Hate Spending Money on What they Can't See
I had a conversation today about trying to get business owners to recognize that they need to comply with certain laws. While the choir understands that not doing so puts businesses at risk, the choir still can't get why the business and the owner is willing to take their chances despite law.
I stated that business owners and small businesses are reluctant to pay for something that doesn't have an immediate ROI emotionally or economically. For example, if a supplement company were given an opportunity to distribute their product internationally for the cost of liability insurance, they are motivated to make the investment provided the opportunity far exceeds the cost. But the same company may not want to purchase liability if it involved something more remote like PCI compliance when they don't see the value. Especially in unfunded mandates. Every company is subject to one or more of five major privacy mandates and all of them are unfunded. Most companies don't even know they are required.
In addition, they are unwilling to part with funds for something that has a million and one chance of ever happening in their eyes. "We're too small for anyone to care" is the usual mantra. However, when it comes to identity theft, it only takes one to put a small business out of business. The likelihood is not "if" but "when" and far greater than all of the other risks that businesses must contemplate.
So how do you motivate a business or organization to comply? Fear doesn't work because most companies are immune to what feels remote them. Instead, what hits home now? Did a customer loose a wallet or have a credit card turn down? Did an employee have a credit problem due to a bad profile? Did the company computers get infected or go down for any length of time recently? Did an employee loose a laptop or blackberry? Ask who they turned to when it happen and why?
Another way is to show companies how unfunded mandates actually have hidden wealth opportunities they can acquire immediately in employee morale, growth opportunities, and economically. If you are interested email me at witsowitz@verizon.net and write in the subject "Wealth in Unfunded Mandates".
I stated that business owners and small businesses are reluctant to pay for something that doesn't have an immediate ROI emotionally or economically. For example, if a supplement company were given an opportunity to distribute their product internationally for the cost of liability insurance, they are motivated to make the investment provided the opportunity far exceeds the cost. But the same company may not want to purchase liability if it involved something more remote like PCI compliance when they don't see the value. Especially in unfunded mandates. Every company is subject to one or more of five major privacy mandates and all of them are unfunded. Most companies don't even know they are required.
In addition, they are unwilling to part with funds for something that has a million and one chance of ever happening in their eyes. "We're too small for anyone to care" is the usual mantra. However, when it comes to identity theft, it only takes one to put a small business out of business. The likelihood is not "if" but "when" and far greater than all of the other risks that businesses must contemplate.
So how do you motivate a business or organization to comply? Fear doesn't work because most companies are immune to what feels remote them. Instead, what hits home now? Did a customer loose a wallet or have a credit card turn down? Did an employee have a credit problem due to a bad profile? Did the company computers get infected or go down for any length of time recently? Did an employee loose a laptop or blackberry? Ask who they turned to when it happen and why?
Another way is to show companies how unfunded mandates actually have hidden wealth opportunities they can acquire immediately in employee morale, growth opportunities, and economically. If you are interested email me at witsowitz@verizon.net and write in the subject "Wealth in Unfunded Mandates".
Thursday, July 22, 2010
Our Nation Is Unprepared According to CSIS Study
Center for Strategic and International Studies (CSIS) recently issued a study called “A Human Capital Crisis in Cybersecurity,” that highlights how the United States is facing a chronic shortage in cybersecurity experts. According to the study our nation is in a very weak position when it comes to cyber security and our nation is unprepared to defend itself against increasingly sophisticated online attacks.
And you wonder why identity theft is rising. Forty percent of privacy breaches are cyber related. It is not that your IT support is not good at what they do. It is because there is no fail safe method.
And you wonder why identity theft is rising. Forty percent of privacy breaches are cyber related. It is not that your IT support is not good at what they do. It is because there is no fail safe method.
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