Data Loss Incidents Rise, Creates Need for Online Trust and Privacy Protection

By Stephanie Jordan
in

According to the Identify Theft Research Center, data breaches involving personally identifiable information (PII) increased over 600 percent this past year with over 222 million records being compromised. The Online Trust Alliance (OTA) believes that few events can damage a company’s reputation and create mistrust than breaches to PII. Beyond that, breaches are expensive: the Ponemon Institute’s 2009 Cost of Data Breach Report estimates data breach incidents cost U.S. companies $204 (USD) per compromised customer record, compared to $202 (USD) in 2008. The average total per-incident costs in 2009 were $6.75 million.

The OTA offers a Privacy & Data Loss Incident Readiness Planning Guide,  to help companies be proactive and prepared in the event of a data loss. It’s a free resource. Another resource the OTA offers is its forums.

Just yesterday, the OTA announced more details for its upcoming forum, to be held September 22 -24 at Georgetown University in Washington DC. The goal of the 5th Annual Online Trust and Cybersecurity Forum is to help e-commerce companies, governmental agencies, financial institutions, and marketers enhance consumer protection while protecting their brands from emerging threats.

White House Cybersecurity leader and presidential advisor Howard Schmidt is the initial keynote, followed by Greg Link of Franklin Covey who will provide a keynote on the Speed of Trust, the New York Times best seller.  

“Consumer trust is one of the primary enablers for continuing the global economic growth driven by the Internet,” says Mark Bregman, executive vice president and chief technology officer for Symantec Corporation, who is also a speaker at the event. “A strong public/private partnership between government and business is a key element for ensuring online trust for consumers. Events such as the Online Trust and Cybersecurity Forum help develop the framework necessary for the exchange of information needed to make that kind of partnership successful.”

Event organizers say attendees will learn the latest techniques and best practices, evolving issues in security, privacy and data governance, and strategies for decision-makers to use to align business and marketing goals with technical solutions.

In conjunction with the Forum, OTA will be hosting the OTA Training Academy on Wednesday, Sept 22, offering two half-day training programs on email authentication and email regulatory compliance. Taught by industry leaders, the Academy is a mix of curriculum-based instruction, theory, practical applications and hands-on exercises. Participants will have the option to take a certification exam at the conclusion of the program.

Registration for the forum and the Training Academy is open to the public. (Save  $200 (USD), if you register for the forum this month.)

Published July 8, 2010