Yes-You can be sued
Here we are years later and businesses and other entities still show by their actions that they think Security breaches and dataloss are no big deal. If they thought it was serious, they would take it seriously. They would take steps to prevent it but all too often it's an afterthought.
We here is an incentive to take that personal information seriously. Here is a very good reason to put procedures in place to prevent it. Back on the 11th of April, 2011 the Texas State Comptroller announced that it had suffered a security breach. 3.5 million Texans personal Information had been publicly exposed on the internet for a year.
And now the backlash begins as The steps for a class action lawsuit have been put in place. $1,000 per victim with 3.5 million victims? The state has already paid out $1.6 million in notifying victims etc. And we haven't even gotten to the point of fines from enforcement agencies.
Think about it. Under FACTA there are no statutory limitations. While businesses may think a year of credit monitoring solves the problem it doesn't. Victims of this breach, may not see their information used for years or decades even and FACTA takes that into account. People are getting fed up with datalosses and security breaches. These things are nothing new they have been happening for a while. It way past time for businesses to understand the seriousness of the problem and take steps to prevent it instead of saying "Oops we are so sorry" after the fact.
We here is an incentive to take that personal information seriously. Here is a very good reason to put procedures in place to prevent it. Back on the 11th of April, 2011 the Texas State Comptroller announced that it had suffered a security breach. 3.5 million Texans personal Information had been publicly exposed on the internet for a year.
And now the backlash begins as The steps for a class action lawsuit have been put in place. $1,000 per victim with 3.5 million victims? The state has already paid out $1.6 million in notifying victims etc. And we haven't even gotten to the point of fines from enforcement agencies.
Think about it. Under FACTA there are no statutory limitations. While businesses may think a year of credit monitoring solves the problem it doesn't. Victims of this breach, may not see their information used for years or decades even and FACTA takes that into account. People are getting fed up with datalosses and security breaches. These things are nothing new they have been happening for a while. It way past time for businesses to understand the seriousness of the problem and take steps to prevent it instead of saying "Oops we are so sorry" after the fact.
3 people like it
Comments (19)
Chukwuekwu Okonta
12
Forensic accountant
I have to be careful of materials i use for my contents online so that i don't get sued. See (Taxas vs. victims 2011)
Cheryl Baumgartner
12
Medical Billing/Coding/Insurance
No not Sony-THe State of Texas Comptroller's Office as I stated int he article. It has nothing to do with Sony which is simply another in a long lone of large comapnies that have had breaches and will get slapped by the FTC and others.
I am talking about a government agency here.
Steven Cetta
6
INERTIA4
If this is about Sony, than I agree. Sony Sucks big time. I have never and will never buy or use any of their products.
MARIE CALVIN
6
GET PAID DAILY
Thanks, great info., keep sharing. Are you earning money for this information, do you blog? Let me know I'd like to share what I'm doing.
Cheryl Baumgartner
12
Medical Billing/Coding/Insurance
It is a huge problem especially with Government agencies, Being a veteran believe me I know. It seems like the VA has them just as often as they change underwear.
Brian Clark
5
Online Entrepreneur
This also happened to the Department of Workforce Services in the State of Utah, including all the medicaid records with personal and medical information.
Please Delete
7
delete please
Thanks for sharing this. Maybe after being slapped with lawsuits they will take the extra effort to protect identities better.
Helen Smith
9
Consultant
I would also suggest when filling out a application for anything before leaving the store you make sure your information is put away. Sales people will lay your information down, and forget about it, if they are busy.
Cheryl Baumgartner
12
Medical Billing/Coding/Insurance
What's even sadder is having someone getting arrested and telling the police that it was not them and still going to jail. After all if you polled the prison population 90% of them would say that they are innocent even if they can't get any guiltier.
Money can be replaced but they time an innocent victim of Character identity theft spends in jail cannot be replaced, they never get it back. Or God forbid it is medical Identity theft and the victim cannot tell the doctors their medical histor
Helen Smith
9
Consultant
Good for Texas, more states should take their lead. It is a sad thing to see someone who had no idea their credit has be compromised discover the damage done.
Cheryl Baumgartner
12
Medical Billing/Coding/Insurance
Companies have been getting penalties for a while especially in TX. Our State Attorney General is serious, he's already slapped Radio Shack and CVS Pharmacy. However this is the first time that I have seen someone go after a government agency with a lawsuit.
Helen Smith
9
Consultant
From the time we were given a SSN our information has been all over the place, and easily accessible. Then when something like this happens, and your information is used, it takes you years to prove you were a victim of ID theft. It's getting easier, but we still have a long way to go. I personally think the companies should have more penalties when this happens.
Paula van Dun
16
Retired
I think I will not have time to listen to it before my vacation so I put in on my to-do list. It is an important subject to know at least some basics of how to prevent issues. Better safe than sorry.
Aravindh Reddy
7
Web Designer, Forex Trader
nice info i like it
i will do my best
thank you
Paula van Dun
16
Retired
Thanks for the link you sent me. How many time is involved to listen to it? If it is not too long I will try to fit it in.
Cheryl Baumgartner
12
Medical Billing/Coding/Insurance
The money side is the least of people's problems. It's the other areas of identity theft that are what people need to worry about. In the US It is common knowledge that a company that experiences a breach is going to pay for roughly one year of credit monitoring. However other uses of the information will not be picked up by credit monitoring.
If you haven't done so yet, watch the webinar that I recorded on Identity Theft to see exactly what victims face and how far reaching the problem is
Paula van Dun
16
Retired
In Holland they hacked one of the biggest banks The Rabo Bank this week. Nobody lost any money (yet?) but people could not pin money and online payments were impossible almost 2 days. Maybe grandpa was not so crazy to put his money under his bed matras.
Cheryl Baumgartner
12
Medical Billing/Coding/Insurance
Hopefully this will make people think. My sister and I worked out a rough estimate of what this could cost the State in terms of fines (Both state and federal) Lawsuits, cost of notification and internal issues that must be addressed and it works out to $8.75 BILLION!
Allan Haastrup
7
Networker
This is really a serious problem! So many people individually and businesses as well are too light on security. Just noticing how many people get hacked on facebook, hotmail and other places tells the sad story. Thankyou for sharing this Cheryl