Data Breach Effects: Advice on How to Rebuild Credit Ratings
As more and more data breaches are revealed and debated online, the number of victims of such incidents increases. From never-ending sales calls to having items charged on your card to seeing credit ratings go down the drain to identity theft, these people are the ones who feel the most powerful consequences, not the companies where the breaches occur.
So what are these people to do to protect themselves and get back to how things were? In what credit ratings are concerned, UK victims are advised to use the Data Protection Act to rebuild them. According to E-Victims org, a former support group for cybercrime victims quoted by the Register, even after establishing fraud and absolving themselves of liability to fraudulent debt, data breach victims still have poor credit ratings.
As credit agencies rely on data from lenders, not on corrections communicated by those who borrow money, the organization says the Act could be used to force lenders to correctly communicate the status of fraud and data breach victims. Otherwise, even if they get a new credit, victims of such breaches will still have to pay higher interest rates. The Register also directs victims to a factsheet published by E-Victims.org aimed to help them with their credit reports.
October 13th, 2008 at 4:36 pm
These data breaches and thefts are due to a lagging business culture. As CIO, I’m always looking for ways to help my team, business teams, and ad hoc measures of various vendors, contractors and interal team members. A book that is required reading (specific chapters, depending on nature of projects and teams) is “I.T. Wars: Managing the Business-Technology Weave in the New Millennium.” It has a great chapter regarding security (among others).
We keep a few copies kicking around – it would be a bit much to expect outside agencies to purchase it on our say-so. But, particularly when entertaining bids for projects, we ask potential solutions partners to review relevant parts of the book, and it ensures that these agencies understand our values and practices.
The author, David Scott, has an interview here that is a great exposure: http://businessforum.com/DScott_02.html
The book came to us as a tip from one of our interns who attended a course at University of Wisconsin, where the book is in use; I like to pass along things that work, in the hope that good ideas continue to make their way to me. I hope you can make use of this info…