Comments on: Do Security Breaches Cost Customers?

By: ds

ds — Mon, 15 Dec 2008 10:43:18 +0000

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There may also be an assumption on the part of consumers that the problem is pervasive. What’s the point in changing companies if the new one will be just as bad?

By: David Brodbeck

David Brodbeck — Fri, 12 Dec 2008 14:23:07 +0000

There may also be an assumption on the part of consumers that the problem is pervasive. What’s the point in changing companies if the new one will be just as bad?

By: Adam

Adam — Thu, 11 Dec 2008 11:47:00 +0000

Ted, There are a couple of problems with the German bank situation. The first is the exposure of personal information, the second is the abuse of banking details, and the third (in the US) would be the credit impacts of the abuse of the information. As to the first, I don't have a clear answer. There are people who reasonably want to protect the privacy of where their home is--celebrities, government officials who make unpopular decisions, those under threat of personal violence from an ex-partner. The banks have contributed to a risk of personal injury there. The current abuse of banking details can be dealt with through re-issuance, re-numbering and re-authentication. This will be expensive for the banks and their customers, although perhaps less expensive than fraud. We don't know. The final bit, the ongoing implications of impersonation requires a response in line with how the country's credit reporting systems work. I've discussed this before in posts http://www.emergentchaos.com/archives/2008/02/the_real_problem_in_id_th.html http://www.emergentchaos.com/archives/2008/06/identity_theft_is_more_th.html I'm not sure if these solutions would work in the German context.

By: Ted Doty

Ted Doty — Thu, 11 Dec 2008 11:27:06 +0000

What happens if essentially an entire industry is compromised, like the German Banks? What should a consumer do? What can a consumer do? http://www.theregister.co.uk/2008/12/09/stolen_german_bank_accounts_for_sale/