Efficacy of prevalent laws in ensuring confidentiality

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Reference no: EM132109647

The following is an excerpt from a January 15, 2005 news item published in CIO magazine: “Sen. Debra Bowen (D–Calif.), author and sponsor of many of the state’s privacy laws, notes that an estimated 10 million Americans experienced some sort of identity theft within the past year, leading to credit card and bank fraud. In a recent report, the Aberdeen Group concluded that by 2005, identity theft losses could reach $2 trillion worldwide. The rise in identity theft has made consumers increasingly skeptical of corporate efforts to collect personal data. In fact, many Americans believe strengthening privacy safeguards should be the government’s number-one priority, according to a study conducted this year by the market research firm Yankelovich.” Comment on the efficacy of prevalent laws in ensuring confidentiality of personal information.

Reference no: EM132109647

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