Identity Theft Data Protection Laws www.IDTheftSecurity.com

23 Sept 2008 · 1 min

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1:02

The video reports on newly enacted Massachusetts regulations aimed at protecting consumers' personal and financial data. Effective by the start of the next year, businesses must adopt stricter data handling standards, including immediate breach notification to customers and the state, limiting data collection and retention, and restricting employee access. Security experts, including Robert Siciliano, praise the measures but warn that cybercriminals will continually adapt, making security a perpetual battle. The segment also advises consumers to actively monitor their credit‑card statements and account activity for unauthorized charges.

Chapters

There are now new rules in place tonight to protect your identity and to protect your money. And companies in Massachusetts have to adopt these rules by the first of next year. They set new standards for the way businesses safeguard our personal information and credit cards. If there's a breach, companies will now have to notify customers and the state right away. Companies will also have to limit how much personal information they take, how long they keep it, and the employees who have access to it. Security experts applaud the changes, but they concede that thieves adapt quickly.
From this point on, security professionals will continue to create different processes, different security software to make sure that this information is that much more secure. However, the criminal hacker will always be trying to find a way around those processes, and it's going to be a 24/7, 365 battle between the good guys and the bad guys.
Security experts also say it's important for consumers to watch their own finances. Most importantly, track your credit card bills and account statements for any charges that you don't recognize.