Criminal phishing in 2007 escalated in both the number of attacks and the financial losses resulting from them, according to a study from Gartner.
The Entrust president and chairman/CEO Bill Conner said in a response to Gartner's survey that it's time for the federal government to take a broader role in protecting people and businesses from these attacks.
"The government needs to continue to move quickly to mandate a national data breach notification bill with appropriate security measures - like encryption and stronger authentication - that truly protects the consumer’s information," said Conner.
Financial companies have never been what we would call "welcoming" when it comes to accepting more federal regulation. Even after epic security breaches at CardSystem Solutions and TJX happened, only at the state level in places like California has legislation been enacted to inform people in a timely manner about their details being potentially exposed when attacks have succeeded.
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