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Whats Worse: Credit Card Or Identity Theft?
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Randy Naramore
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Randy Naramore,
User Rank: Ninja
4/9/2014 | 10:51:57 AM
Identify Theft
Personal Information loss can make someone's life miserable. The tasks that people must through to get credit files straightened out and the fraudulent accounts that have been charged up closed are daunting at the very least. Social media is one way the bad guys get some of the information they ues, we need to understand the hazards of telling too much about ourselves. Good article.
Drew Conry-Murray
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Drew Conry-Murray,
User Rank: Ninja
4/9/2014 | 11:16:51 AM
ID Theft
ID theft gets my vote as being worse. If my CC number gets stolen and reused, it's relatively easy to get the charges removed. But if my ID gets stolen (Social, address, etc.), then trying to prove that I'm me and that other guy isn't me turns into a Kafka-esque, bueracratic existential nightmare.
jmshipe
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jmshipe,
User Rank: Apprentice
4/9/2014 | 11:34:58 AM
Re: Identify Theft
For the consumer, identity theft is far more devastating than credit card theft.  As for the company that lost it, I'd say the jury is still out.
NeiraJ312
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NeiraJ312,
User Rank: Apprentice
4/9/2014 | 11:47:50 AM
Re: Identify Theft
Hi Kerstyn, excellent post, and yes the consumer is all too often forgotten and they may see the fall out of a breach affecting them month or years after the breach itself... I wrote on the subject myself a while back and would very much appreciate your view :)

YOUR PROVIDER IS HACKED, YOU'RE ASSURED OF NO FINANCIAL LOSS. BUT ARE YOU SAFE?...


Kind regards,

Neira
Marilyn Cohodas
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Marilyn Cohodas,
User Rank: Strategist
4/9/2014 | 12:35:01 PM
Re: Identify Theft - a new conversaton
Kerstyn. Let me throw your own question sback at you: Why has PII data security taken a back set to CC info? Where does the "new conversation" begin and with whom? 
Randy Naramore
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Randy Naramore,
User Rank: Ninja
4/9/2014 | 3:37:10 PM
Re: Identify Theft - a new conversaton
To me CC data takes a back seat to PII because of the obvious, credit cards can be cancelled but sensitive data loss is a much greater difficulty. Thoughts?
Kerstyn Clover
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Kerstyn Clover,
User Rank: Moderator
4/9/2014 | 3:44:46 PM
Re: Identify Theft - a new conversaton
Randy - That's the same way I tend to see it as well - I would much rather lose something that I can track (and freeze, report, cancel, whatever) at my own will than something that's nebulous and much harder to keep track of or identify.

 

Meredith - I can't speak for media as a whole, but I would wager that part of the reason CC data loss gets so much coverage is that it's a lot easier to sum up in sound bites and advice for consumers. I would much rather advise a client on how to handle their credit card being stolen than on trying to rein in their personal data, so if I'm a news organization trying to do a consumer alert story then that's the way to go. Not to mention, cardholder data is something we know is out there and there are still plenty of people who can't begin to fathom how much data is being collected about them. I'm not even sure I can.

 

I think the new conversation starts in a lot of places. Constantly pushing for security that's above and beyond requirements or regulations is a great place to start; we know there are controls for card numbers but it gets a lot greyer when you're deciding how you can and can't store or transfer, say, favorite colors.
Randy Naramore
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Randy Naramore,
User Rank: Ninja
4/9/2014 | 4:28:06 PM
Re: Identify Theft - a new conversaton
Agreed, that is a much easier conversation to have than to "try" to explain how to straighten out their credit file, fraudulent charges,life, etc.
Thomas Claburn
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Thomas Claburn,
User Rank: Ninja
4/9/2014 | 6:42:44 PM
Re: Identify Theft - a new conversaton
Credit card numbers should really be one-time use numbers.

I wonder if stiffer penalties for identity thieves -- like being forced to manually correct grammatical errors in spam messages -- would create more deterence.
RyanSepe
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RyanSepe,
User Rank: Ninja
4/9/2014 | 7:54:41 PM
Data Masking and PII
I feel that as the years progress that the amount of data that is considered PII is increasing. I think one reason this situation is difficult is because you have to way data accessiblity versus security. How can you be secure but also be able to perform your tasks? I think one item that might help is data masking. Now understand like encryption methods, authentication, and other security safeguards, this is a measure that can still be exploited but I think that if multiple masking methods are leveraged for different data sets it makes the data that is being worked with much harder to access.

Also we need to realize its impossible to prevent 100% data leakage. We need to focus on the best ways to prevent as much as possible.

Any one else to posit solutions that may help protect against identity theft and data leakage?
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