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The breach at Home Depot is only the most recent in a torrent of high-profile data compromises. Data andidentity-related crimes are at record levels. Consumers are in uncharted territory, which raises a question: Is it time to do for data breaches and cybersecurity what the nutritional label did for food? I believe we need a Breach Disclosure Box, and that it can be a powerful consumer information and education tool.
Once a cost of doing business, today data breaches in the best-case scenario can sap a company’s bottom line, and at their worst represent an extinction-level event. The real-world effects for consumers can be catastrophic. Because there is a patchwork of state and federal laws related to data security—some good, some bad, all indecipherable—and none that work together, it’s impossible to know just how safe your personally identifiable information is, and has been, at the places where you shop and the companies and professional organizations with which you do business.
Data security, identity-related consumer issues and privacy are all areas screaming for big-picture solutions. This is a situation in search of a paradigm shift—one that produces tools which enable consumers to make informed choices.
Read the full story: www.forbes.com
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