Preventing Identity Theft (Red Flag) Is Just Good Business

As a follow up to my blog yesterday about the cost of data breaches this article was interesting.  There were varying opinions about whether the FTC would stick with their latest drop dead date for Red Flag, but I thought the most pertinent comment came from Rebecca Herold, to wit:

"Too many organizations waste too much time on whether to put in privacy and security safeguards based only upon whether someone will catch them if they don't," adds Rebecca Herold, owner of Rebecca Herold & Associates. "You want to avoid having breaches occur. It's just common sense to put safeguards in place, regardless of enforcement."

Certainly when you realize the the biggest cost of data breaches is lost business her view is dead on.  In fairness I must add that not only is Rebecca one of the top privacy and security consultants in the country but she is also our partner at Compliance Helper.

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