The Problem With Regulation
Identity Theft, Cyber Security Fixes Offered in New Study -- Market Solutions Spur Incentives, Better Technology
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Here's an Excellent White Paper on Identity Theft
Identity theft tops the list of consumer complaints collected by Federal Trade Commission, prompting a torrent of regulatory schemes in Congress. But a new study shows that market-based solutions offer better incentives and technology innovation than heavy-handed government reporting requirements.
"Numerous high-profile cyber-attacks have spawned intense calls for government intervention into information security practices," write Clyde Wayne Crews, Jr. and Brooke Oberwetter in a study released this week by the Competitive Enterprise Institute. But such problems "could all be fixed far more effectively and efficiently with market solutions-- among them, liability, insurance, third-party monitoring and ratings, and property rights-than with government mandates," the study finds.
In "Preventing Identity Theft and Data Security Breaches: The Problem With Regulation," Crews and Oberwetter warn against following the Sarbanes-Oxley auditing and reporting model that is already wreaking havoc on American businesses, driving up costs and drumming some small companies out of business.
Read the study
Preventing Identity Theft and Data Security Breaches The Problem With Regulation in (PDF Format)
CEI is a non-profit, non-partisan public policy group dedicated to the principles of free enterprise and limited government. For more information about CEI, please visit our website at www.cei.org
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Comments
This is totally important information... I've had problems along these lines and all readers should take heed!
Posted by: Winston Longram | January 14, 2007 6:02 AM
Too many people just write about online crime and do nothing about it... now the media is all tied up with the elections -- two years away -- so any stories about spammers getting caught won't carry any weight.
My cousin had her identity stolen and it was a real mess! It was the direct results of a Phishing attack, and I just wish I would have showed her your site so it could have been prevented.
People have no idea how bad this is.
Posted by: rkusco | February 13, 2007 5:13 PM
well... you can thank the CLINTON administration and the illustrious Algore for identity theft through spam, phishing and other online crime techniques.
while they belly-ache about "global warming" and other issues -- they forget they turned the internet over to an international band of geek thugs who allow all manner of domain hijacking, domain kiting, Whois forgery and spoofing -- making it easy to extort people's personal data from the web.
So, when you see Hillary running for Prez... just remember, her hubby is responsible for BILLIONS of losses due to identity theft.
Posted by: Auggie | June 23, 2007 10:34 AM
You guys kill me. All this writing about identity theft when you know no one is going to do anything about it.
With Web 2.0 on the horizon, everything will belong to everyone -- no ownership. So, what does "identity theft" mean anyway? You old folks better wake up and get with the program.
Posted by: klersa | July 6, 2007 12:38 PM