I hope that a person that commits a theft such as this is punished as severely as a criminal would be for bank theft or robbing a convenience store at gun point. I'd like to gather some of these articles and track what the outcomes are (don't know if time will permit). This is a big issue today whether you work in accounting, medical, retail... All company's really need to do is apply some basic accounting controls to their data (separation of duties, access to assets vs. access to records, etc.), follow through with some physical controls, then let the technology experts advise on data security techniques. Probably more complicated then I'm making it out to be, but if a company can keep its valuable trade secrets then they can protect their valuable customer data.
Miami Herald via NewsEdge Corporation :
Certegy Check Services, a Fidelity unit which helps businesses clear checks, sued
"We don't anticipate losing any business as a result of this situation," Renz Nichols, president of Certegy, said on a conference call. "We have seen no evidence that any credit card or bank account information was used for anything other than marketing."
Banks, financial firms and retailers are focusing on data security after system breaches led to consumer lawsuits and losses. Retailer
Certegy also sued Sullivan, formerly a senior database administrator, for misappropriation of trade secrets, breach of fiduciary duty and breach of confidentiality agreements. The complaint didn't specify the amount of damages sought by the company.
Certegy fired Sullivan after it discovered that the information was sold,
Lawyers for the firm said they didn't have an address or telephone number for Sullivan, who couldn't be reached by Bloomberg News for comment through directory assistance or computer searches.
The stolen data included names, addresses, telephone numbers, birth dates, as well as bank account and credit card information, the company said. After receiving the information, the data broker sold names and addresses, but not customers' entire bank account numbers, to the marketing firms, Nichols said.
The Secret Service, a branch of the
"It's the responsibility of institutions like Fidelity to strictly limit access to data, to make sure the people handling the data are people we can trust," said
Certegy, which employs about 1,000 people, is notifying consumers about the data theft, and has alerted credit reporting agencies as well as the Visa and